The Kaust Innovation Fund backs Nomadd, an automated cleaning system for solar panels, spun out of King Abdullah University of Science and Technology, in its $1m series A round.
Nomadd, an automated solar panel cleaning developer spun out of King Abdullah University of Science and Technology (Kaust), has raised $1m in a series A round from the Kaust Innovation Fund.
Nomadd’s technology is able to clean solar panels without the use of water. Solar panels lose efficiency when covered with dust, sand or dirt, hence Nomadd’s product brings them back to full capacity.
Nomadd is an initialism for the spinout’s technology, no-water mechanical automated dusting device, and is based on research at Kaust. The technology was developed by Georg Eitelhuber, who founded the company and now acts as its chief technology officer.
The spinout will put the money towards establishing a strong base in Saudi Arabia, hire staff and carry out tests with potential clients.
The Kaust Innovation Fund invests in seed and early-stage companies to support innovation and technology. It provides up to $200,000 to seed-stage businesses and up to $2m to early-stage companies.
Jos van der Hyden, chief executive of Nomadd, said: “Nomadd’s dust mitigation technology will help make solar energy viable in the Gulf Cooperation Council region – one of the major global markets for solar energy in the coming decades.”
Nicola Bettio, manager of the Kaust Innovation Fund, said: “This investment is a first in a series of technology-based investments that demonstrates our ongoing commitment to build and support the local early-stage startup community.”
