Planetary Power Raises $3.4M
Planetary Power is getting backing as it shifts focus. The business model had focused on providing efficient powering options to construction sites, mining operations and other remote sites, according to GeekWire. For the past year, the company has refocused its technology on providing power to telecommunications towers.
The company, according to the story, just raised $3.4 million in a Series A round from angel investors. The company now has more than $10 million in funding. The story says that Planetary Power’s CEO says that more than 1 million towers worldwide are not connected to a reliable grid. These unconnected towers often run on inefficient and costly generators. The company’s pitch is that its HyGen hybrid generators are a better choice.
Last year, RCR Wireless posted a feature on options for power telecommunications towers.
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