Insolight secures fresh capital

Insolight, based at the EPFL Innovation Park in Lausanne, developing next-generation solar PV panels for the global market. Its Translucency & High-Efficiency in Agrivoltaics (THEIA) lets enough light pass through for crops and can provide more energy than conventional PV modules. The technology is based on a patented optical technology, which was validated at 29% efficiency in a standard flat module. Insolight holds the Solar Impulse Efficient Solution Label for this technology. With the technology out of the lab, the startup promises to deliver a robust solution in all weather conditions.

The company has established strong partnerships with major industrial players as well as research centers and is supported by private investors and several EU programs. The proceeds from the series A round, in addition to the €10 million HIPERION grant from the European Union – will enable the startup to commence production and commercialisation of its modules. Besides Investiere, Insolight received contributions from the Zürcher Cantonal Bank, Swiss Immo Lab and private business angels.

The company intends to sell the first modules to large solar energy corporates for applications in agrivoltalics since there is potential for high efficiency and translucent modules to produce both solar electricity and crops on the land, whether deployed on fields or greenhouses. The agrivoltalic market today represents five GWp of installed power with market size of approximately 700 million Swiss francs.

In line with the round, Rainer Isenrich, CEO of Edisun Power Europe AG and Alan Rosling (former Executive Director at Tata Sons) will remain members of the board of directors. They will continue to support the company with their industrial experience and business acumen.

(Press release)