Insolight closes Series A financing round of CHF 5 Mio

Insolight Theia module
Insolight’s solar mosule THEIA, designed for Agrivoltaics

Insolight is delighted to announce that a Series A Round of CHF 5 Mio has successfully been closed. The round was led again by Investiere , with co-investors Zürcher Kantonalbank, Swiss Immo Lab and a number of private business angels.

Following the first Seed Financing round in January 2018, Insolight has established a world record efficiency of more than 29% for flat solar panels, as certified by IES-UPM. The company has successfully taken the technology out of the lab and proved its robustness in real weather conditions. The Series A financing round – together with the EUR 10 million HIPERION grant from the EU – will enable Insolight to start producing and selling the modules. The production will be outsourced to external manufacturers.

Insolight intends to sell first modules to large solar energy corporates for applications in agrivoltaics. There is a unique potential for high efficiency and translucent modules to produce both solar electricity and crops on the land, whether deployed on fields or greenhouses. The nascent agrivoltaic market already represents 5 GWp of installed power with a market size estimated to CHF 700 million. It leverages unique advantages of the Insolight technology, differentiating the market entry strongly from mainstream products.

Rainer Isenrich, CEO of Edisun Power Europe AG and Alan Rosling (former Executive Director at Tata Sons) will remain members of the board of directors. Their industrial experience and solar background are tremendously helping us in our key decisions making.

The Insolight team is thrilled about this new milestone and is now on a mission to deliver the modules to the market. Insolight thanks all the investors who participate in helping to reach the goal of bringing next generation solar modules to the market and thereby contributing to a sustainable future.Insolight is supported by several programs from the European Commissions (H2020 (HIPERION & GRECO), Solar-ERA.Net, Eurostars, Climate KIC), national programs (Innosuisse, Innovaud, SPEI, FIT, VentureKick, CleanTech Alps), the European Space Agency (ESA BIC) and EPFL (Innogrant).

About Insolight

Insolight–solar modules with record efficiency

Insolight is a Swiss tech company based at the EPFL Innovation Park in Lausanne, developing next-generation solar PV panels for the global market. The technology is based on a patented optical technology, which was validated at 29% efficiency in a standard flat module. The company has established strong partnerships with major industrial players as well as world-class research centers. It is supported by private investors and several EU programs. Insolight aims at further improving the return-on-investment of PV installations, ultimately decreasing solar electricity costs

About HIPERION

This project has received funding from the European Union’s Horizon 2020 research and innovation program under grant agreement No 857775.

The HIPERION (HybrId Photovoltaics for Efficiency Record using Integrated Optical techNology) project has been awarded a €10.6 million grant from the European Union in the framework of the European Union’s Horizon 2020 programme, under the “Increase the competitiveness of the EU PV manufacturing industry” funding opportunity.

The project will be run by a 16-member consortium: CSEM (Switzerland), the consortium coordinator; startup Insolight SA (Switzerland); European PV research centers Universidad Politécnica de Madrid (Spain), Fraunhofer Institute for Solar Energy Systems (Germany) and Lodz University of Technology (Poland); industry partners Mondragon Assembly (Spain), X-Celeprint (Ireland), Argotech a.s. (Czech Republic), IQE plc (UK), Sonceboz (Switzerland), 3S Solar Plus (Switzerland) and ENGIE Laborelec (Belgium); solar installers Muon Electric (Portugal) and Milieu Studio (France); and coordination and communication agencies Compaz (Switzerland) and L-UP SAS (France).

The project started in September 2019 and lasts 48 months.

For more information
Insolight
Laurent Coulot
CEO & co-founder
Email: laurent.coulot@insolight.ch

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