Geostellar, which applies big-data geomatics to model worldwide solar resources, infrastructure, economics and policy, today announced at Where 2.0 financial backing from Flash Forward Ventures (FFV) to transform the way solar power projects are identified, sited, designed, financed and marketed worldwide.
Geostellars platform provides a mapping, search, and analytics system allowing subscribers to compute precise solar energy potential at ground and rooftop project sites by using algorithms that take into account latitude, atmosphere, slope, shadow, property ownership, utility rates, transmission access and other factors. Geostellar finds locations that give the greatest returns for the lowest cost to producers and consumers of alternative energy.
To demonstrate the platforms residential- and commercial-scale solar power capability, Geostellar (www.geostellar.com) created the first precise, accurate half-meter resolution solar power potential model of three major metropolitan areas a solar power simulation of every rooftop, lot and field of metro-Washington, DC, Philadelphia, PA and Indianapolis, IN. Geostellar is on track to produce a half-meter resolution residential- and commercial-scale model for the entire US and Western Europe within a year, and has already launched a utility-scale solar power project development platform with 10 meter resolution coverage of the continental United States and Puerto Rico.
Geostellar has created the first comprehensive business intelligence and decision support platform for the new energy economy, said Rob Miller, Chairman and Managing Director of FFV. Were excited to fund the characteristic double-bottom line company – rapid revenue growth with high margins and a positive contribution to the clean, green and renewable energy industry.
With the investment from FFV, Geostellar has attracted an experienced management team and a stellar Advisory Board. Jim Condon, a technology and energy industry veteran whose distinguished career spans executive positions at Exxon, Marriott, Legent, KPMG, Cybercash and a number of venture-backed technology start-ups, has joined as COO/CFO. Griff Harrison, a senior sales executive at MicroStrategy and former enterprise sales manager at Avectra, will join as Senior Vice President, Sales. FFVs Miller and Condon will join Geostellar founder and CEO, Levine, on the Board of Directors.
Were very fortunate to bring on Jim who is such an experienced and capable operator at this critical juncture in the companys growth, said Geostellar CEO David Levine. His ability to attract and structure financing and organize business processes has enhanced our progress in every aspect of operations. From sales to product development, analytics and customer support, our performance has accelerated dramatically. This bodes well for the future of Geostellar and big-data geomatics.
The companys Advisory Board includes Steve Morgan, CEO of American Clean Energy and former CEO of Jersey Central Power & Light; Mary Dridi, former CFO of webMethods and Chris McGill, a Senior Vice President at UberMedia and former General Manager, Yahoo! News. Geostellar has also appointed as Advisors Emeritus clean tech industry luminaries Chris Dymond, Managing Director of Greengate, with over $30 billion in energy infrastructure finance projects, and Tom Steding, founding CEO of Stion, the leading thin-film solar manufacturer, and senior executive of numerous Silicon Valley hardware, software and networking infrastructure companies.
