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 specializes in enhancing the efficiency and cost-effectiveness of floating solar projects through an AI-powered water management system. Its core technology controls solar panel tilting and tracking using water loads and pumps, integrating sensor data with machine learning for optimized photovoltaic performance and maintenance planning. The system features buoyancy tanks that adjust PV panel rotation without motors or hydraulics, utilizing a hydrostatic positioning mechanism. Xfloat aims to generate electricity for various users, including industrial plants and private consumers, by effectively utilizing solar energy on water surfaces within the Energy Tech sector.
Strategic signal
In September 2023, Xfloat's technology was integral to Teralight completing Israel's largest floating PV project. This milestone demonstrates the commercial viability and scalability of Xfloat's AI-powered floating solar solutions, positioning the company as a key innovator in the renewable energy landscape and attracting significant attention from the solar industry for its advanced tracking capabilities.
Log in to access full profile ›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.