Xfloat

Company Overview

Snapshot

Founded in December 2017 by Ran Alcalay and Avi Alcalay, Xfloat operates with 11–50 employees. The company has raised a total of $3.93M across 3 funding rounds from 3 investors. In March 2023, Spanish water company Miya acquired a stake in Xfloat, signaling strategic interest in its floating PV technology.

Business overview

Xfloat develops AI-powered floating photovoltaic systems designed to enhance the efficiency and cost-effectiveness of solar projects on water bodies. The company's core technology involves a water management system that controls solar panel tilting and tracking using water loads and pumps. This system integrates sensor data with machine learning to optimize photovoltaic performance and streamline maintenance planning. A key innovation is its buoyancy tanks, which enable PV panel rotation without traditional motors or hydraulics, utilizing a hydrostatic positioning mechanism. Xfloat aims to provide electricity to various users, including industrial plants and private consumers, by effectively harnessing solar energy on water surfaces within the Energy Tech sector.

Strategic signal

In September 2023, Xfloat's technology was integral to the completion of Israel's largest floating PV project by Teralight. This milestone demonstrates the commercial viability and scalability of Xfloat's AI-powered floating solar solutions, validating its potential to significantly contribute to renewable energy infrastructure and attract further investment and partnerships in the clean energy generation market.

Company Intelligence Q&A

What is Xfloat's primary focus?

Xfloat focuses on improving the efficiency and cost-effectiveness of floating solar projects through AI-powered water management systems that control solar panel tilting and tracking.

When was Xfloat founded and by whom?

Xfloat was founded in December 2017 by Ran Alcalay and Avi Alcalay.

What was a significant development for Xfloat in March 2023?

In March 2023, Spanish water company Miya acquired a stake in Xfloat, as reported by PV-Tech. This strategic investment highlights growing interest in Xfloat's innovative floating PV technology.

What was a key project completed in September 2023 involving Xfloat's technology?

In September 2023, Teralight completed Israel's largest floating PV project, utilizing Xfloat's technology. This project was highlighted in PV-Magazine.

Has Xfloat received any grants?

In May 2023, Xfloat received a grant from the BIRD Foundation, as announced on LinkedIn. This grant supports the company's innovation in renewable energy and floating photovoltaic systems.