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January 16, 2024

Soly, Dutch Solar Startup Secures €30M to Expand Energy Reach

Soly just clinched €30 million investment boost, lighting up the path to a greener and more sustainable tomorrow

The sun is shining brightly not just in the sky but also in the solar power industry, with a staggering $239 billion invested in large and small-scale solar systems in the first half of 2023. Amid this solar surge, Soly is making waves with its recent funding triumph, positioning itself as a key player in the solar revolution.

Soly's mission to make solar energy accessible to everyone is gaining significant momentum as it successfully closes a €30 million investment round. Led by international climate venture capital firm ArcTern Ventures and the pioneering US-based Fifth Wall, along with support from existing investors Shell Ventures and ABP pension fund, this infusion of capital marks a crucial step for Soly's expansion plans.

The freshly acquired funds are not just a financial injection; they're the fuel for Soly's ambitious journey into new territories. With a focus on Italy, Spain, France, and Scandinavia, Soly aims to offer its innovative energy services to a broader audience. The ultimate goal? To power over 500,000 households and businesses with renewable energy by 2030, setting a dynamic benchmark for the solar energy landscape.

Patrick van der Meulen, CEO and co-founder of Soly, expresses pride in the team's accomplishments and the trust of clients over the past decade. He emphasizes, "Our mission is to make solar energy available to everyone. This investment will propel our ability to help more people and businesses, in even more countries, to switch to sustainable and affordable energy."

Soly isn't just about solar panels; it's about an innovative approach to energy management. The introduction of the Soly Brain® in 2023 marked a significant shift. This home energy management system intelligently controls solar panels, home batteries, and charging stations, creating an additional revenue model for end-users. The plan? To create a Virtual Power Plant, actively balancing the energy grid and offering new services by bundling users together.

As Soly propels into its next phase of transformational growth, the solar energy market in Europe, estimated at over €3.2 trillion, beckons. With a blend of digital solar sales platforms, innovative energy management systems, and a commitment to widespread electrification, Soly is not just illuminating homes but also illuminating the path to a sustainable energy future. Stay tuned as Soly redefines the solar narrative, one sunbeam at a time.

Josefina Dipaolo
Josefina Dipaolo
Content writer at TechNews180
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