Sense Hawk, which was founded in 2018, is an early-stage California-based company of software-based management tools for the solar energy generation industry.
Reliance Industries Limited has made an investment of $32 million to hold 79.4% stake in the US-based Company Sense Hawk Inc. in order to expand its green energy, the company notified in a regulatory filing. Reliance has made the investment through its primary infusion and then did secondary purchase.
Sense Hawk, which was founded in 2018, is a California-based Start-up developer of software-based management tools for the solar energy generation industry. Speaking on the development, Mukesh Ambani, Chairman of Reliance Industries, welcomed Sense Hawk and its vivacious team into the company. As part of its commitment to transforming the green energy sector, Reliance Industries Ltd. aspires to enable 100 GW of solar energy by the end of year 2030. To attain the lowest LCoE for solar projects all around the globe, we will work with Sense Hawk to reduce costs, raise productivity, and improve on-time performance in tandem with our aim for solar energy. It is a technology platform that I find to be quite intriguing, and has no doubt that with Reliance Industries support, Sense Hawk will grow significantly.
Rahul Sankhe, The President and Co-Founder, Sense Hawk, said, “We are on a mission to improve the solar energy ecosystem, acquiring 50% of the market by 2025 and with Reliance Industries Ltd. as our partner, we will accelerate on our execution that toward goal.”
The transaction is subject to certain regulatory and other customary closing conditions and is expected to complete before end 2022.
The turnover of Sense Hawk for FY22, FY21, and FY20 was $2,326,369, $1,165,926, and $1,292,063, respectively, according to the Reliance Industry Ltd. filing.
The Sense Hawk team is excited about this new phase in our growth and believes that working with Reliance Industries, one of the largest global infrastructure enterprises, will be strategically advantageous.