REplace Secures $2.1M to Enhance AI Site Selection for Energy Projects

REplace, an AI-powered platform based in Tel-Aviv, has announced a $2.1 million funding round to enhance its site selection capabilities for renewable energy and data center projects. In a press release, the company detailed its use of proprietary algorithms to streamline the identification of optimal sites, aiming to maximize return on investment and minimize risks.

The funding round was led by Gravity Climate, with participation from Adam/a, Techstars, Malbec Ventures, and strategic angels from the solar and data center sectors. This investment will support REplace's expansion in the U.S. market and further development of its AI technology, which compresses site selection timelines from months to seconds.

REplace's platform analyzes over 50 factors, including landowner data, grid information, and market dynamics, to provide instant decisions on land parcels. The platform is already utilized by major renewable energy companies such as Iberdrola, EDF Renewables, and Doral Energy, making it a critical tool for developers and investors in the sector.