Ulupono Initiative

Sopogy

A Hawaii-founded clean tech company that developed an award-winning concentrated solar power system.

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Background

Sopogy was an innovative solar company founded in Hawaii, designing products for both power and thermal applications, including power generation, process heating and air conditioning. Sopogy's technology utilized mirrors that track the sun to create heat, which was then used for industrial processes, in the oil and gas industry, for solar thermal air conditioning and power generation.

Why We Invested

Ulupono Initiative invested in Sopogy because it offered opportunities for significant impact in energy in Hawaii.

  • In 2008, Ulupono made its first growth capital investment to Sopogy.
  • In 2009, Sopogy launched the world's first MicroCSP solar farm Holaniku, located at the Natural Energy Laboratory of Hawaii Authority's Hawaii Ocean Science and Technology Park on the Big Island.
  • In 2010, Sopogy broke ground on the five-megawatt Kalaeloa Solar One facility on Oahu's west side.
  • In 2011, Sopogy was selected as the Hawaii Business Innovation Showcase winner for Honolulu at the Asia Pacific Economic Cooperation summit.

 

Conclusion

 

Sopogy's Kalaeloa Solar One project power purchase agreement with Hawaiian Electric Co. was terminated in February 2014 and the company shut down its operations later in 2014.

Impact

  • Innovative Hawaii-founded solar company using patented Micro-Concentrated Solar Power technology
  • Start-up company exploring technology for broader global energy markets, already spread across national and international sites
  • Products have both power and thermal applications including power generation, process heating and air conditioning

At a Glance

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Investment Area
Energy
Financial Model
For-Profit