PRESS RELEASE – secures Series A investment & partnership with AES, a leading global energy business
Summary
“Our Maverick solution is defining the next generation for solar power and the true potential of how fast, simple, flexible and low cost it should and will be.” said Chris McGrath, 5B’s Co-founder and CEO. These significant advantages will help us meet our customers growing needs in today’s everchanging environment.“ Providing both strong validation and international demand, this powerful collaboration will undoubtedly accelerate 5B towards achievement of its mission to deliver gigawatts of its MAVERICK solution globally, including the world’s largest solar project, SunCable’s 10 GW Australia-ASEAN Power Link, planned for delivery with the Maverick solution in 2023. AES also have a demonstrated track record of acceleration of innovative technology platforms in the energy sector – including through its co-creation of Fluence, the world’s largest grid scale energy storage business, and Uplight, the US’s leading digital energy management platform – providing exciting opportunities for collaboration and across these technology platforms. Speaking of the newly founded partnership with AES, McGrath says “The potential of the partnership we have formed is hugely exciting and palpable to all involved: AES share our vision for a clean energy future and the significance of 5B’s contribution to this, they are incredibly well placed to accelerate us on this mission – across its access to capital, global pipeline of projects and customers, depth of sophistication and experience in the market and portfolio of world leading technology businesses, and critically, we enjoy a genuine and strong resonance between our values.” 5B acknowledges and thanks everyone who has recognised, supported and contributed to its vision and mission to date – including its, investors, partners, customers, suppliers, advisors, collaborators and supporters. For more information or requests for interviews please get in touch: 5B is a clean technology innovator, founded in 2013 by solar engineers, Chris McGrath and Eden Tehan. 5B’s technology development & pilot production takes place in our Sydney headquarters, with our Australian assembly partner IXL Solar based in Adelaide.