Diligence memo · auto-generated · as of July 3, 2026
Project Solar, Inc.
Project Solar, Inc. looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Project Solar, Inc. operates in Other Energy, based in LEHI.
Sub-sector tags: climate/cleantech.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Project Solar, Inc. has raised $18M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $18M on 2022-06-03.
Most recent recorded round closed around 2022-06-03.
Valuation (modeled)modeled
Provath models Project Solar, Inc. at approximately $144M (range $43M–$385M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.17× the median modeled value of Series B Other Energy companies in 2022–2024 (44 peers) — value vs value, same stage and era. Within the normal band (117% of peer median) for its niche.
Financing rhythm & timingmixed
Last raise 4.1 yr ago; this sector typically re-raises about every 12 months.
Only one round on record and long silent — often defunct, acquired, or gone quiet.
Comparablesmixed
Capital scale ranks ahead of 79% of Other Energy peers (2049 compared).
Modeled value ranks above 87% of those peers.
Closest niche peers: Pineapple Holdings, Inc., JTEC Energy, Inc., TMC the metals Co Inc., Cherry Street Holding Company, LLC, Clean Hydrogen Works LA-1, L.L.C..
Peoplefiled
3 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.