Soly Secures €30 Million for Continued Expansion

soly secures 30 million euros

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Soly, a leading international solar energy company, has successfully secured €30 million in funding from both new and existing investors. The investment, led by climate venture capital firm ArcTern Ventures in collaboration with Fifth Wall and supported by existing investors Shell Ventures and pension fund ABP, will fuel Soly's expansion into Italy, Spain, France, and Scandinavia. The company aims to supply renewable energy to over 500,000 households and businesses by 2030. Soly plans to utilize the capital to offer a diverse range of innovative energy services, including its home energy management system, the Soly Brain®, which intelligently controls solar panels, home batteries, and charging stations. Despite market challenges, Soly experienced significant growth in 2023, tripling its sales compared to the previous year. The company operates in the Netherlands, Belgium, Germany, the United Kingdom, and South Africa.

Original article posted on January 15, 2024

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