Recognized as the world leader in robotic solutions, Ecoppia maintains its competitive advantage, completing initial offering stage at $300 million valuation.
HERZELIYA, ISRAEL – December 1, 2020 – Ecoppia Scientific LTD., (TASE: ECPA), the pioneer and world leader in robotic solutions for photovoltaic solar, launched an initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE), after successfully completed the public tender phase. Ecoppia secured $82.5 million from leading institutional investors with a company valuation of $300 million.
During the public tender phase, Ecoppia marked yet another meaningful achievement as public demand reached $76.74 million, despite the fact that the company offered shares for just $1.5 million. During the institutional tender, Ecoppia received $144.7 million in demand, yet accepted only $83.3 million. Discount Capital Underwriting along with Barak Capital and Orion led the initial offering.
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 operated by leading energy players on three continents, Ecoppia’s solutions clean 10 million panels every night and have been field-proven to keep solar panels at a year-round peak performance while minimizing O&M costs.
Despite the unique challenges of the ongoing COVID-19 pandemic, Ecoppia has secured over 10GW of new projects over the last four quarters alone, maintaining a CAGR of booking of over 200% in the past six years.
