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Exclusive: BoxPower raises $6.5M for solar microgrids

Illustration of a stack of solar panels with a currency band

Illustration: Aïda Amer/Axios

Solar microgrid developer BoxPower has closed a $6.5 million Series A, the company tells Axios exclusively.

Why it matters: The Grass Valley, Calif.-based company says its tech offers a clean alternative to the fossil fuel generators typically used for on-site power.

How it works: BoxPower's solar microgrids can be used to harden grid infrastructure or supply EV chargers, especially in remote areas.

  • California utility PG&E, for example, is deploying BoxPower systems to replace vulnerable overhead power lines.
  • "These systems change how energy is supplied to rural energy consumers," CFO Anderson Barkow tells Axios. They can also "take property or community off-grid."

What's happening: Aligned Climate Capital led BoxPower's Series A with a $5 million investment first announced in February.

  • SIG, Technexus, Remarkable Ventures, and Climate Capital subsequently joined the all-equity round.
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