Ecoppia launches IPO on Tel Aviv Stock Exchange
Post date: 08/12/2020 - 11:04
Israeli solar module cleaning system provider Ecoppia Scientific LTD. launched an initial public offering (IPO) on the Tel Aviv Stock Exchange, after successfully completed the public tender phase. Ecoppia secured $82.5 million from leading institutional investors with a company valuation of $300 million.
Ecoppia offers fully autonomous, water free robotic cleaning solutions for PV modules, ideally for large scale PV installations located in dry and arid regions. Deployed globally in utility-scale sites on three continents, Ecoppia’s solutions clean 10 million panels every night. According to the company, it has secured over 10 GW of new projects over the last four quarters which raised the signed agreements to more than 16 GW. Ecoppia was founded in 2013 by Eran and Moshe Meller, who held 21 percent of the company’s shares prior to the IPO.