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SolarReserve is a technology company.
SolarReserve has raised $155.0M across 2 funding rounds.
SolarReserve has raised $155.0M in total across 2 funding rounds.
I cannot fulfill this request. My research indicates that SolarReserve ceased operations by 2020. The prompt requires a company profile in the present tense, describing what the company builds, its current customers, and a forward-looking vision, which is not possible for a defunct entity.
SolarReserve was a developer of utility-scale solar power projects specializing in concentrated solar power (CSP) with integrated molten salt energy storage and photovoltaic (PV) technology.[2][4] It built advanced solar thermal plants like the Crescent Dunes facility, serving utilities by solving renewable intermittency through 24/7 dispatchable power generation at costs competitive with fossil fuels, such as ¢6.3/kWh for projects like Copiapó.[1][4] The company targeted global markets with a pipeline exceeding 13 GW, delivering over $1.8 billion in operational projects and creating thousands of jobs, particularly in regions like Southern Africa.[1][3]
SolarReserve formed in early 2008 with seed capital from US Renewables Group and United Technologies Corporation (UTC) to commercialize Rocketdyne's two-decades-old molten salt CSP technology, backed by over 100 patents.[4][8] The team, with 27 GW and $48 billion in prior energy infrastructure experience across 25 countries, raised $140 million in Series B funding by September 2008 and acquired full IP rights from Rocketdyne in 2014.[2][4] Pivotal early traction included a $737 million US DOE loan guarantee in 2011 for Crescent Dunes, a 110 MW plant with 10 hours of storage, providing real-world data for efficiency gains.[1][4]
SolarReserve rode the renewable energy surge toward dispatchable clean power, addressing solar's intermittency amid rising grid demands and fossil fuel phase-outs.[1][3] Its timing capitalized on post-2008 policy support like DOE guarantees and global solar auctions, positioning CSP hybrids as alternatives to batteries in high-growth markets like Africa and the Middle East.[2][3] By influencing utilities with baseload solar, it shaped ecosystem shifts toward storage-integrated renewables, spurring job creation (e.g., 9,000+ indirect in South Africa) and tech maturation, though competition from cheaper PV pressured pure CSP viability.[3][4]
SolarReserve ceased operations around 2020, with its website inactive, likely due to Crescent Dunes challenges and PV cost declines outpacing CSP economics.[4] Legacy innovations in molten salt storage persist via IP transfers, potentially fueling next-gen hybrids as grids demand firm renewables amid 2030s net-zero pushes. Evolving influence may emerge through acquired tech in battery-competitive storage races, tying back to its core mission of utility-scale solar reliability.[1][4]
SolarReserve has raised $155.0M in total across 2 funding rounds.
SolarReserve has raised $155.0M across 2 funding rounds. Most recently, it raised $15.0M Venture Round in August 2011.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Aug 1, 2011 | $15.0M Venture Round | ||
| Sep 1, 2008 | $140.0M Series B |