Zolar Lands €100 Million Series C On The Back Of Surging Demand For Affordable Green Energy
by Startacus Admin
Germany's leading digital solar platform, Zolar secures major investment to support roll out of new digital energy products.
Zolar, Germany's leading digital solar platform, has announced it has raised a €100 million Series C round led by the US-investor Energy Impact Partners (EIP) and GIC, Singapore’s sovereign wealth fund. Existing investors including Inven Capital, Heartcore Capital, Statkraft Ventures and Pirate Impact Capital also participated in the round.
The platform is driving the green energy revolution by democratising access to solar energy and reducing the complexity for consumers. Its online configurator is unique for the industry and makes it as easy as possible for homeowners to buy customised solar solutions online or lease them for a small monthly fee. This enables people to green their energy supply around their house while saving money and supporting their country’s efforts to become independent from oil and gas.
With the investment Zolar will roll out new digital energy products. Among others the company's app will be expanded to include an energy management system and a dynamic electricity tariff. The app will intelligently control the solar power supply of homeowners while maximising their energy independence and cost savings. For example, the app will recognize the best time to charge an e-car and start the charging process automatically.
Enquiries to Zolar have more than quadrupled this year following rising energy prices. To meet consumers' unprecedented demand for solar energy, zolar will substantially expand its Craftship Partner Network of currently 500 local craft businesses to 3000 by 2025 to increase installation capacity for solar energy. The company will also open its own training centre this year to tackle the renewable sector’s skills gap and train workers in a qualified fast-track process for the energy turnaround.
Alex Melzer, CEO and Founder of Zolar, said: "Our goal is to supply ten million households in Europe with either a solar system or renewable energy by 2030. The climate crisis, energy security issues and the rising cost of fossil fuels mean we must move very quickly. By offering a fully digital experience and making it as easy as possible to get started and use solar energy, we help people go green, become energy independent and save costs. There are 16 million roofs on single and two-family homes in Germany. More than 14 million of them are still without solar systems. Putting solar panels on these houses will drive Germany's independence from coal, gas and oil.”
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Published on: 19th May 2022
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