Solarge, a solar panel manufacturer based in Limburg, the Netherlands, recently received €1.5M from the Limburg Energy Fund (LEF). The funds will be used to scale up production in Weert and to construct a second facility. Solarge, founded in 2018, specializes in lightweight, circular, and PFAS-free solar panels, aiming to lead in sustainable solar technology solutions. The investment signifies growing confidence in their innovative products and mission to accelerate the energy transition.
In the recent past, Solarge raised €3M from impact funds Phase2.earth and Orchard Participations, along with existing investors. This previous funding was aimed at supporting similar expansion initiatives. Compared to the recent investment, the previous funding had a broader investor base but shared the same objective of scaling up production and advancing solar technology. The company’s consistent ability to attract significant investments emphasizes its potential and the market’s confidence in its growth trajectory.
Scaling Up Production
With the new investment, LEF will also become part of Solarge’s shareholder structure. The added capital will facilitate not just the expansion of the Weert facility but also the creation of a second production site. This effort is aligned with Solarge’s vision to make its innovative solar panels more accessible to a wider audience. CEO Jan Vesseur expressed delight in LEF’s support, stating,
“The investment of the Limburg Energy Fund enables us to make our innovative, lightweight solar panels accessible to a wider audience in the long term. We are delighted that LEF shares our vision and supports us in our mission to accelerate the energy transition.”
Commitment to Sustainability
Solarge, headquartered in Eindhoven’s High Tech region, focuses on integrating lightweight solar solutions into building environments. The company prides itself on offering environmentally friendly products with a low CO2 footprint, free from PFAS, and fully recyclable. This approach, combined with competitive pricing, aims to revolutionize global solar applications. The recent financial support from LEF, which is managed by Polestar Capital, highlights the fund’s commitment to backing promising projects in sustainable energy.
LEF was created by the Province of Limburg and operates under the Sustainable Finance Disclosure Regulation (SFDR) as a dark green fund. It supports projects that promote circular economy, energy saving, and sustainable energy generation. By providing risk capital or loans, LEF ensures the realization of impactful initiatives in Limburg. Jan-Willem König, General Manager of LEF, affirmed their support for Solarge, stating,
“With their innovative, circular, and PFAS-free solar panels, Solarge makes an essential contribution to the energy transition. LEF is proud to support Solarge in their further growth, with which we strive together for a greener future, made possible by Limburg innovation.”
The collaboration between Solarge and LEF not only advances Solarge’s production capabilities but also underscores the importance of innovative, sustainable technologies in the energy sector. Solarge’s commitment to reducing environmental impact and promoting energy efficiency aligns seamlessly with LEF’s mission. As the demand for sustainable energy solutions grows, Solarge’s initiatives supported by LEF are likely to play a crucial role in shaping the future of energy production and usage.
