BP said it is investing 20 million Australian dollars ($13.53 million) in Australian renewable company 5B, which specializes in solar technology. The energy major said the investment in 5B — made via its subsidiary BP Ventures — wrapped up a Series B funding round of 55 million Australian dollars that had been co-led by Artesian and the AES Corporation.
“5B’s rapidly deployable solar technology enables fast, easy, low-cost solar installation,” BP’s announcement said. Australian firm 5B says its 5B Maverick system is “a fully prefabricated, plug-&-play solar farm in a box.” It adds that “each 5B Maverick array consists of up to 90 solar modules, mounted on [nine] domed racks between 10 composite steel-concrete beams.”
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