The Lausanne based startup is developing solar panels which are twice as efficient as existing products using satellite technology. The jury of the venture kick competition were convinced of the idea, hence awarded Insolight a cash prize of CHF 130’000.
Over the past decade, the solar panels’ market has boomed. However, conventional silicon panels still lack efficiency and the return on investment for end users is limited. Insolight developed a flat optical panel that directs sunrays on smaller and highly efficient solar cells, which are normally used in satellites. The possibility to exploit these space technologies and the ability to bring them down to earth has played a significant role in accelerating solar transition. Thanks to the support from ESA BIC Switzerland, Insolight continues to benefit from expert know-how from the space industry.
Insolight’s technology can produce twice as much electricity for the same surface area than conventional panels. The quantity of electricity produced from the light energy received of Insolight’s first prototype was recorded as 36%, which could be considered as a world record, while solutions currently available on the market offer throughput of only around 18-20%. Due to this results, Insolight aims to make the industry adopt its product for a faster and cheaper solar transition.
Insolight will utilise the received funds to advance their technology. “The three stages of the venture kick program helped us to progress on the business aspects, with continuous coaching and monitoring. The support received at the kickers’ camps was outstanding and extremely efficient, as it helped us transform a technical project into a real venture. Venture Kick is substantial for us to gain visibility and be on the radar of Swiss and international investors”, says Laurent Coulot, Insolight’s CEO.
Pic: Venture Kick , twitter
(RAN)
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