Triodos Energy Transition Europe Fund has recently invested in the revolutionary business model of Sunvigo as part of a EUR 12 million growth capital funding round, together with Future Energy Ventures and existing investors.
With its smart solar-as-a-service product, Sunvigo maximizes the value of residential solar power systems and democratizes the access to solar power for homeowners. The company is building a pan-European green power community targeting more than one million customers by 2030 to drive the transition to digital, more distributed and 100% renewable power.
Vincent van Haarlem, Fund Manager of Triodos Energy Transition Europe Fund: “In order to speed up the much-needed energy transition it is important that we find ways to make access to renewable energy easier, more user-friendly, and smarter. The solar power contract invented by Sunvigo does exactly that and as such we are pleased to add this new investment to our portfolio.”
Sunvigo founders Dr. Michael Peters and Dr. Vigen Nikogosian will use the new funds to scale the company‘s smart solar-as-a-service proposition and further develop its virtual power plant. “The current energy crisis in Europe has painfully exposed the urgent need to accelerate the transition to 100% renewable energy, and underlines the relevance of the company’s mission,” argues Dr. Peters. “As the solar utility of the future, we want to provide a fully integrated and digital energy offering to our customers, including smart solar-as-a-service, e-vehicle charging and the best grid power product.”
Following this investment, Daphne Postma, Senior Investment Manager at Triodos Investment Management, will be joining the advisory board of Sunvigo.
The full press release issued by Sunvigo is available here.