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Draker Labs

drakerlabs.com

Founded Year

1999

Stage

Convertible Note | Dead

Total Raised

$5.97M

Last Raised

$470K

About Draker Labs

Draker Laboratories provides high-performance monitoring and data management systems for green power technologies, including PV, wind, solar thermal, and hybrid energy systems.

Headquarters Location

22 North Street

Burlington, Vermont, 05401,

United States

802-865-3866

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Expert Collections containing Draker Labs

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Draker Labs is included in 1 Expert Collection, including Renewable Energy.

R

Renewable Energy

4,023 items

Includes companies working on technology to support renewable energy generation.

Latest Draker Labs News

Solar Monitor Draker Labs Lays Off Staff But Hopes For White Knight

Aug 28, 2015

Solar Monitor Draker Labs Lays Off Staff But Hopes For White Knight Customers go without project monitoring as competitors circle. Eric Wesoff August 28, 2015 Draker Labs , one of the leading providers of monitoring systems and services for commercial and utility-scale solar power, had to “downsize” last Friday, according to the Burlington Free Press. Sources indicate that most or all of the company's employees were let go. Other sources suggest that Draker has left customers without monitoring capabilities and that Washington Gas & Electric was scrambling for a replacement. Last month, Draker and monitoring firm Inaccess were set to merge. The two firms would have had a combined portfolio of 5 gigawatts of utility and commercial-scale solar power plants, according to the report Global PV Monitoring 2014-2018 by GTM Research and SoliChamba Consulting That deal fell through. Sources close to the deal suggest that Draker had a high cost structure and was being pressured by competitors such as Also Energy and Locus Energy. But all is not lost? Here's the text of a letter from Draker Executive Chairman Everett S. McGinley sent to customers on Thursday saying that Draker had signed an agreement with "a leading solar industry solution provider. "  Valued Draker Clients We are pleased to announce that Draker has signed an agreement with a leading solar industry solution provider for the continuation of Draker’s business and service to its clients. The agreement  provides for the following: Draker's monitoring services will continue without interruption. Key system management staff are being recalled to work immediately to ensure continuity of service. Draker and the buyer intend to fulfill the installation, set-up and commissioning of previously-contracted business at new sites with the least schedule disruption possible. Customers for new sites will be contacted individually within the next few days to confirm orders and discuss scheduling. A closing of the acquisition is anticipated as early in September as practicable, with a target of mid-month. Resumption of service and support will begin immediately, however, prior to the acquisition closing. The Draker team appreciates the support of its clients and looks forward to continuing to serve them in the future. What vendor might want to acquire Draker? Inaccess might want to reengage and we've heard talk of companies like SunEdison or SunPower taking an interest, although solar companies have a bit less buying power than they did a few weeks ago. Cedric Brehaut from SoliChamba Consulting, author of the GTM report, notes that "due to the business practice of selling monitoring software subscriptions 5-year up-front (mostly to leverage the ITC), the existing installed base is not necessarily seen as an asset but a liability.” “The most likely scenario”, adds Brehaut, "is that a downstream company operating a large fleet of megawatt-scale PV plants picks up Draker for its software platform, in order to bring monitoring in-house and/or to replace internally-developed software with Draker technology. " In the meantime, competitors like AlsoEnergy and Solectria are trying to migrate Draker's customers to their platform.

Draker Labs Frequently Asked Questions (FAQ)

  • When was Draker Labs founded?

    Draker Labs was founded in 1999.

  • Where is Draker Labs's headquarters?

    Draker Labs's headquarters is located at 22 North Street, Burlington.

  • What is Draker Labs's latest funding round?

    Draker Labs's latest funding round is Convertible Note.

  • How much did Draker Labs raise?

    Draker Labs raised a total of $5.97M.

  • Who are the investors of Draker Labs?

    Investors of Draker Labs include Campbell Scientific, FreshTracks Capital and Harbor Light Capital Partners.

  • Who are Draker Labs's competitors?

    Competitors of Draker Labs include Ice Energy, Clean Power Finance, Alteris Renewables, Fat Spaniel Technologies, Entech Solar and 12 more.

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