Solean Closes Funding Round With €2 Million Of Investment
Solean, a French start-up with a new approach to solar PV panel manufacturing, has completed its first funding round, securing €2 million in investment for research and development to accelerate its product's journey to market.
Solean has devised a new approach to the manufacturing of solar panels. This contains three main steps: stringer, assembler, laminator. All three steps are carried out by different machines offering a modular approach to the panel's build and machine assembly. The first of the machines (stringer) will be completed by the end of the year, a timeline that has been accelerated by the funding.
As well as securing funding from EIT InnoEnergy, Europe's sustainable energy innovation engine, Solean will also benefit from a place on its Highway programme, a specialised package designed to help start-ups reduce their time to market. The Highway includes access to EIT InnoEnergy's network of over 430 industry partners, as well commercial skills training and participation in industry events.
Arnud Goy, CEO of Solean, said “EIT InnoEnergy were the ideal partner for us as they are more than just a financier. The involvement of EIT InnoEnergy has given us access to a fantastic network across Europe as well as support and coaching to help us get our solar solution from idea to commercial success.”
Richard Biagoni, CEO of InnoEnergy France, adds “We're excited to see the progress of Solean as it disrupts the traditional solar manufacturing model. We have a common vision for a sustainable future and to see manufacturing return to Europe. We will continue to support them and others who want to pursue a more sustainable future.”
Solean's modular approach is designed to bring manufacturing closer to the end user - which will also bring jobs and manufacturing back to Europe. The unique manufacturing approach utilises robots to complement the human workforce rather than to reduce it. Despite an alternative manufacturing process, the completed panels rely on the same tried and tested technology as traditionally manufactured panels.