About Heliolytics

Vision and Mission

Applied curiosity to empower a net-zero carbon society.

Our mission is to be the most trusted source of actionable insights enabling the sustainability of our renewable energy partners. We enact our mission by:

Collecting and curating data Creating clarity from complexity Expanding the frontiers of knowledge

Heliolytics is the largest global provider of photovoltaic (PV) aerial inspections and advanced site data services to empower the next generation of solar. Our proprietary technology platform and advisory services help customers gain a deep understanding of how their solar fleet is performing throughout its life cycle. Our comprehensive solutions help ensure solar energy projects are optimized to yield expected returns in a way that maximizes power output performance and reliability of components, modules, and arrays while reducing portfolio risks and decreasing operational costs. Founded in 2014, Heliolytics is headquartered in Toronto, Ontario, Canada, and provides full global coverage, ensuring consistent, highquality operations across solar portfolios. We operate our piloted-aircraft services in an expanding set of countries, and provide drone services globally. Our annual aerial inspection capacity has grown from about 500 megawatts (MW) in 2015 to just shy of 38 gigawatts (GW) as of December 31, 2021, with a path to increase to 50-60 GW in 2022. Globally, in total, we have serviced more than 100 GW of solar, making us the worldwide standard-bearer for aerial site inspection, site optimization, and advanced site data analysis. In December 2021, we announced that our company has been acquired by NovaSource Power Services (NovaSource), a portfolio company of Canadian-owned Clairvest Group Inc. (Clairvest, TSX: CVG). However, Heliolytics will remain a standalone entity within the larger company. This merger, and our combined resources and expertise, strengthen our ability to provide the solar industry with the most comprehensive suite of lifecycle services, which are at the forefront of renewables operations and maintenance.

Heliolytics strives to be the most trusted source of actionable insights enabling the long-term sustainability of our renewable energy partners by collecting and curating data, creating clarity from complexity, and expanding the frontiers of knowledge.

Industry-Leading Approach

Heliolytics has pioneered the condition-based workflow for aerial inspections. Starting with consistent, high-quality data collection, our diagnostic reports flag the impact of direct current (DC) faults on system production before determining the appropriate level of detailed analysis required. This enables system owners and operators to make a more informed decision on the level of analysis needed after data capture.

We take this approach because we strongly believe that solar stakeholders should never have to make a compromise between cost and acquisition quality to achieve the highest level of data capability and insight on a portfolio.

Getting to Net-Zero

Roughly 70% of global power still comes from nonrenewable, carbon intensive energy resources. As a climate-friendly and cost-effective energy solution, solar has the potential to drastically reduce our global CO2 emissions, helping to meet the World’s climate obligations for a clean energy transition, but faster deployment is needed to reach net-zero.

Heliolytics’ role is in helping to ensure the industry can continue to deploy at the speed required to meet global targets for a renewable energy economy. We specifically do this by analyzing, validating, and contextualizing system failures and potential risks in solar energy projects, working closely with stakeholders across the value chain to provide depth of insight into how systems are likely to perform over time. To date, we have helped more than 66% of North American ground-mount solar projects improve efficiency and output yield. Our optimizations have resulted in increased energy production equivalent to approximately 600,000 metric tonnes, or 130,500 car-years, of CO2 reductions. Every marginal increase in efficiency is a huge win for our team, our client partners, and the environment.