Led · Equity · Oct 2023

Circadian Technologies provides an Energy Management System (EMS) delivered as both hardware and Software-as-a-Service to solar developers and asset owners. Its platform supports design, sales, financing, operation, and maintenance of solar and storage systems. The company focuses on grid-challenged emerging markets, particularly in African countries. Circadian has partnered with Nigeria's Royal Power & Energy to deploy solar and storage installations across 50 bank branches. The firm intends to use new funding to expand its SaaS data platform functionality and scale operations to meet demand. Its technology aims to accelerate the transition from fossil fuels to renewables for commercial and industrial customers in frontier markets.

Participated · Series C · Sep 2023

Pexapark provides Power Purchase Agreement (PPA) price reference, risk and portfolio management software (PexaOS) and advisory services for the renewable-energy sector. Its PPA reference prices cover 19 markets and the company has supported more than 30,000 MW of renewable PPA transactions. Pexapark’s software and advisory offering is used to close PPA transactions, manage market risk and monetise renewable energy investments. The services have been adopted by over 200 renewable energy, storage and green hydrogen players across Europe, including Octopus Energy Generation, Statkraft, BP, EDF Renewables and Covestro. Led by CEO Michael Waldner, the company positions itself as the reference for buying, selling and managing renewable energy. Pexapark plans to use the new funding to expand operations and broaden its business reach. Pexapark offers an operating system that combines software and advisory services to cover the full energy trading and sales workflow—from price discovery to analytics, execution, and monitoring—for solar and on- and offshore wind. Its solutions are underpinned by PPA price reference data and quantitative analytics and are used by customers such as Ardian, Brookfield’s CEE Group, CIP, TotalEnergies, and Ørsted. The company operates across 18 countries and employs more than 80 people across Europe. Since launching in 2017, Pexapark has focused on helping developers, IPPs, funds, utilities and corporates manage revenues and portfolio risk in subsidy-free, volatile markets. The business plans to expand into storage, trading-as-a-service, and portfolio management and to significantly grow headcount across Europe in 2022. Recent funding and government support are intended to accelerate that geographic and product expansion. Founded in 2017 and headquartered in Zurich, Pexapark builds software and offers consulting to support the sale of renewable energy, with tools for price discovery, analysis, procurement and PPA management. The company applies quantitative analytics to power risk- and portfolio-management tools and broader advisory services. Pexapark reports having helped finance over 5 GW of projects through PPAs. Its customer base includes firms such as RWE, Credit Suisse, Vestas and EEX. Pexapark is currently active in major European renewable markets and plans to expand its global presence. The company recently secured growth capital to accelerate that international expansion. Pexapark develops a platform that helps owners of wind farms and solar parks structure power sales, close transactions and monitor energy risks. The company aims to make renewable energy trading easier, faster and lower-cost amid growing market complexity and volatility. Clients include traders at Credit Suisse AG and Encavis AG, and Pexapark has advised more than 2.2 gigawatts of power purchase agreements in Europe. Founded in 2017 and based in a startup space in Zurich‑Schlieren, the company had about 20 employees. In December 2018 it raised €3.5 million to develop its trading platform and hire more staff, and it planned to raise additional capital in 2020.

Participated · Equity · Mar 2023

Roofit.Solar develops building-integrated photovoltaic (BIPV) roofs that incorporate solar energy collection into roofing materials. The company serves customers in 17 European countries, including Estonia, Sweden, Germany, Norway, Poland, Austria, Belgium, Switzerland and the UK. It uses its roof planning software and structural components (studs and beams) to integrate PV into roofs and is working on product and software improvements. Management says revenue has steadily increased and that the company had an exceptionally strong 2022. Planned uses of new capital include ramping up production capacity, training roofing partners, accelerating expansion beyond home markets (Germany, Sweden and Estonia), and developing new products. The company is headquartered in Tallinn and is led in part by CFO and co-founder Raimond Russak.

Participated · Series B · Sep 2020

zolar operates an online platform that provides homeowners and regional tradespeople access to individual residential solar solutions and related energy-management products. The company recently launched zolar Easypay, a flexible, individual instalment loan that lets customers choose between a one-time upfront payment or a monthly fee to own systems. This financing product expands zolar’s consumer offering and aims to make solar adoption more accessible and affordable. zolar states its mission is to enable people to benefit from self-generated green energy while contributing to climate protection. The company aims to supply more than ten million European households with renewable energy by 2030. Since being founded in 2016, zolar has raised close to €300 million to support its growth. Zolar offers an online configurator that simplifies buying or leasing customized rooftop solar systems for homeowners and coordinates installations through a network of local craft businesses. The company says enquiries about installing solar systems have more than quadrupled this year amid rising energy prices, and it currently works with 500 local installers. Zolar plans to expand that Craftship Partner Network to 3,000 installers by 2025 and will open a training centre this year to address the renewable sector skills gap. The product roadmap includes new digital energy features such as an energy management system, a dynamic electricity tariff and a smart control to auto-charge electric cars at optimal times. Zolar has previously raised €59 million and its installer network recently benefited from $23 million in support from Ecosia. CEO Alex Melzer has set a goal to supply 10 million European households with either a solar system or renewable energy by 2030. Zolar provides residential customers with photovoltaic systems using an all-in rental/lease model designed to lower upfront costs and bureaucratic barriers. Customers can rent systems for as little as €54/month, with monthly pricing tied to individual electricity consumption and system size. Leases run for 20 years, after which homeowners can purchase the system for a symbolic €1 and typically continue to use it for another ~10 years. The company aims to expand into new markets and will deploy fresh capital to accelerate that growth. Zolar positions its offering similarly to competitor Enpal and emphasizes making solar energy accessible, affordable, and effective for a broad consumer base. The company is led by founder and CEO Alex Melzer. Zolar provides fixed-priced photovoltaic systems through an in-house Zolar Online Configurator that lets homeowners plan, compare and commission PV systems online. The company pairs its digital sales platform with a network of local partner installers to deliver end-to-end rooftop solar deployments. Zolar is expanding its product portfolio to integrate energy storage and electric mobility, and aims to enable electrified, smart households. Management says revenue grew significantly during the COVID-19 pandemic and the company is targeting to triple installations across Germany in 2021. Zolar positions itself as a customer-centric next-generation energy company focused on decentralised renewable systems and carbon footprint reduction. The Berlin startup employs around 150 people across Germany and emphasizes climate protection as a primary business priority. Zolar develops photovoltaic systems and energy-management solutions for homes, producing solar panel systems that provide power when needed and store the rest. Its core products include the Zolar Online Configurator for customers and the Zolar Project Center portal for partnered installation technicians to digitise their work. The company aims to become a key data provider for the accelerated energy transition by optimising its digital platforms and expanding internationally. According to a press release, revenues this year have doubled compared to 2019. Zolar will use the new funding to expand abroad and to establish itself as a go-to company for clean energy and individual solar systems, CEO Alex Melzer said. Founded in 2016 and based in Berlin, the startup previously raised a €4 million Series A three years earlier.