Ojjo is a San Rafael-based provider for solar foundations and Ojjo raised $40M in Series C funding.
NGP ETP led the round, with Ajax Strategies also participating. James Wallis, a Partner at NGP, joined Ojjo’s Board of Directors.
The company will use the funds to increase its growth and execute its 9-Gigawatt active pipeline.
Ojjo, headed by Mike Miskovsky as CEO, is the industry leader in developing and manufacturing next-generation solar foundations. The Truss Driver, a revolutionary drilling machine and novel hardware that Ojjo has designed, is incorporated into its patented method. The Earth Truss TM System is a quick and efficient way to secure ground mount solar systems.
It typically requires less steel volume and labour than traditional pile foundations. More than 250 patents are held by the company, both domestically and internationally. The system has been used in more than 1.6 gigawatts of solar projects, including Gemini Solar, the country’s largest single-solar and storage project.
Ojjo raised $27M in two previous funding rounds with participation from Cthulhu Ventures and other investors.