News, Events & Resources

Greenbackers Investment Capital announces Xponent™ Power Series-A Private Placement (USD$10m)

Xponent™ Power, based in Fremont, California, have developed a first-of-its-kind intelligent and deployable solar system which enables power generation on the go. There are no other commercially competing solar awnings in the market today, giving Xponent™ a first-mover advantage.

  • Xponent™ offers the first vehicle integrated, sensor enabled, retractable solar system for space constrained applications.
  • Their first product to market, Xpanse™, is an intelligent, sensor enabled, retractable solar awning that deploys at the touch of a button to provide portable solar power.
  • The product is being initially launched into the USA’s 11-million-unit RV industry where it can provide off-grid power.

Xponent™ is targeting large residential markets like apartments and small homes as well as mobility applications such as RVs, mobile medical, disaster relief etc. which are not currently served by other solar applications due to limited roof space. Traditional solar technologies are generally bulky and require a large area to mount on, severely limiting use in these applications.

To date, the company has raised over $5Min funding and has received over $1M in pre-orders from customers that have reserved their system with a $100 deposit.

Rohini Raghunathan, Founder and CEO of Xponent™ commented: “Within 3 months of launching our website, we received almost $1M of product pre-orders directly from RV consumers. We also have a Memo of Understanding (MOU) for a significant order from a major RV manufacturer. This is fantastic validation of our program. We are now scaling up, raising funds to meet demand, and excited to be pitching to Greenbackers investor network.”

Greenbackers have been appointed to manage Xponent™’s private placement via their Investment Showcase, a deal room connecting VC’s, Corporate Venture Funds, Impact funds, Angel Syndicates and other professional investors to pre-screened, curated, investment-ready ventures.  By providing a secure, deal-sharing platform to streamline origination and increase efficiency, they now have over 320 professional funds participating, enabling syndication and co-investment.

Robert Hokin, Managing Partner at Greenbackers said “Ambitious start-ups like Xponent™ are at the beating heart of the green economy. Greenbackers are delighted to be helping them accelerate their pathway to funding. Our deal platform was created to help funds to easily scout and access the most investible climate technology deals, wherever they are based. Xponent™’s impressive management team and board, coupled with such a unique solar solution, are a very compelling business proposition – we look forward to working with them.”

About Greenbackers Investment Capital: Greenbackers is a specialist venture firm focused on climate & cleantech capital globally. Operating from London, Glasgow and Houston, their mission is to accelerate equity capital into investable climate and clean technology businesses. https://greenbackers.com

For more information on Xponent™ contact Andrew Smith, Executive Director, Greenbackers Investment Capital. andrew.smith@greenbackers.com

2 September 2022