27 Oct Solarus Sunpower attracts major investment
Solarus Sunpower attracts major investment. Fuel to boost production and meet market demand.
VENLO (NETHERLANDS)- October 27th, 2016 – Solarus Sunpower, the world’s technology leader in hybrid solar power collectors, has attracted an investment of € 2 million from NASA Holding, an international company investing in food production, warehouse developments and renewable energy projects and Catena Investments, a venture capital firm, that designs, develops and manages new ventures and venture capital funds active in the CleanTech, FinTech and Real Estate sector. This investment is part of a € 6 million financial round of which is now € 3 million secured by the new investors and the existing Solarus shareholders. A second investor has performed an extensive Due Diligence and is now moving towards finalization of their intended € 2 million investment. And a complementary crowd funding campaign is prepared to establish the Solarus brand name within the world’s sustainable energy community.
Recently Solarus and its partners received an Eureka-grant of € 2,68 million for the development of innovative production methods. All these investments will fuel Solarus’s boost of production to meet its strong increase in global sales. The company is projecting a steep growth in revenue passing the € 20 million point in 2017.
Alexander Ostapishin, managing partner NASA Holding: “We met Solarus in our search for sustainable energy sources for our development projects. We were impressed by the technology and the market potential of Solarus and decided to take a substantial stake in the company and help the company to kick off its international growth.”
Solarus, a technology spin out from the Swedish energy giant Vattenfall produces revolutionary, third generation Solar Power Collectors that generate heat and electricity within one integrated system. These hybrid systems use a concentrating mirror that enhances their performance all year round. Per square meter these Collectors produce 4 times as much energy as conventional PV panels do. In this highly disruptive technology more than € 10 million has been invested in development of the product and the sophisticated production process, resulting in a strong patent portfolio.
The aim of Solarus Sunpower is to boost production to meet growing global sales and do an IPO. Therefore the company became a Member of the London Social Stock Exchange, and signed an agreement with the London based banker Peel Hunt to bring them public. Prior to the IPO the company considers to have one or two more financing rounds to finance its rapid growth. Over the last year Solarus engaged in more than 30 installations varying from hotels, farms, factories, offices, private houses and a sports centre. And the company managed to establish strong business partnerships with installers and distributors in Turkey, Spain, Switzerland and South-Africa. For all these countries assembly lines are planned to meet local market demand and create local employment.
Company background and mission
Solarus is a private company founded in 2006 and it develops, produces and sells hybrid solar PowerCollectors with a peak efficiency up to 70%. The company is headquartered in Venlo (The Netherlands) and has an R&D centre in Gävle (Sweden). Solarus works worldwide with local distributors and installers and is now active in Europe, (South) Africa, India, Brazil and Turkey. The company’s vision is ‘Solar power for the people’. The mission of Solarus is to fight energy poverty and decrease the emission of CO2 and pollutants that come from burning fossil fuels. In South-Africa Solarus is setting up a financing scheme to supply people who suffer from energy poverty, with clean and affordable energy delivered by PowerCollectors. By being good Solarus is doing good, which is a reason for Solarus to be a certified BCorp.
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