Multinational conglomerate Reliance Industries recently acquired a majority stake in SenseHawk, a software development startup based in California. The $32 million-worth agreement between the Indian giant and solar power-specialized software developer includes funding for R&D, growth, and commercial rollout of products.
The Chairman of Reliance Industries, Mr Mukesh Ambani said, “In collaboration with SenseHawk, we will drive down costs, enhance productivity and improve on-time performance to deliver the lowest LCoE (Levelized Cost of Energy) for solar projects globally and make solar energy the go-to source of power in lockstep with our vision for solar energy. It is a very exciting technology platform and I am confident that, with RIL’s support, SenseHawk will grow multifold.”
Ambani believes that with this partnership, they can lower costs while simultaneously improving on-time performance and productivity.
Rahul Sankhe, president and co-founder of SenseHawk, commented on this alliance, “I believe this partnership will open new use cases, help our nascent markets, and offer higher value to customers across the solar lifecycle. We are on a mission to improve the solar energy ecosystem, acquiring 50% of the market by 2025 and with RIL as our partner, we will accelerate our execution toward that goal.”
California-based SenseHawk is a young startup founded in 2018 with a niche in the development of software-based management tools for the solar energy generation industry. Its Solar Digital Platform provides end-to-end management of solar asset life cycles. As per SenseHawk’s claims, 140 customers in 15 countries have adopted new technology with the help of their platform, covering over 600 sites and 100 GW worth of assets.
