Icarus RT partners with Enduring Planet to make solar cheaper and more efficient
Doubling PV array output for wider solar adoption and faster deployment
Icarus RT, Inc. is an award-winning advanced engineering company founded in 2016 and based in San Diego, CA. They are developing Quartet, a low-cost hybrid photovoltaic/thermal (PV/T) solar plus storage cogeneration system.
Quartet nearly doubles the energy output of commercial and industrial PV arrays while cutting the payback period and the CO2 emissions in half. The result is greater adoption and faster deployment of solar systems. A 100-kW commercial scale Quartet system can generate 334,000 kWh/year and prevent 220 MT CO2e emissions.
Icarus Quartet doubles the energy output of commercial photovoltaic (PV) arrays in the same footprint and cuts CO2 emissions. Cooler PV panels live longer and produce more power, all leading to fewer installations now and less recycling later.
Icarus RT contributes to the UN’s Sustainable Development Goal 11 (Sustainable cities and communities) and 13 (Climate action).
Icarus RT partnered with Enduring Planet to:
- Smooth cash flow between grant payments
- Accelerate progress on key R&D and commercialization efforts
Fast working capital to support critical R&D
Icarus RT is an early-stage venture that's won many awards and about $2 million in grants. Grants provide Icarus RT with non-dilutive funding, great credibility and visibility, and lead to many other opportunities. However, they are often also slow to pay and require cash flow to capitalize the advantages.
When Icarus RT applied to Enduring Planet, the process went fast. Icarus RT responded quickly to questions and documentation requests, and Enduring Planet followed suit, providing Icarus RT with working capital on an accelerated timeline.
The process with Enduring Planet was straight-forward and honest.
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