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- Paces Secures $11 Million in Series A Funding to Accelerate Renewable Energy Development
Paces Secures $11 Million in Series A Funding to Accelerate Renewable Energy Development
Slice of Energy Team
August 06, 2024
Key Highlights:
Paces raises $11 million in Series A funding, led by Navitas Capital.
New funding to enhance Paces’ GIS and data platform for faster project deployment.
Core tools, Project Search and Permitting Predictor, streamline site selection and due diligence.
Supports transition to electrified economy by accelerating renewable energy projects.
Source (Direct)
Notable Quotes:
"Meeting the challenge of the energy transition requires new solutions to enable development of the energy ecosystem."
"The Paces platform has significantly improved our site selection process and quality control, allowing us to increase the number of solar projects we deliver to communities across the country.”
"Paces is committed to maximizing the climate benefits of every piece of land."
Our Take:
The successful completion of Paces’ Series A funding round marks a significant milestone in the renewable energy sector. The infusion of $11 million will enable Paces to refine and expand its innovative GIS and data platform, addressing critical inefficiencies in project development. By reducing the time required for site selection and due diligence from months to minutes, Paces positions itself as a pivotal player in accelerating the transition to an electrified economy. This strategic investment, led by Navitas Capital, underscores the growing importance of streamlined, data-driven solutions in achieving global climate goals and advancing sustainable energy infrastructure.