EUR 10m financing round strengthens residential solar leader Zolar

28 Aug, 2019

Statkraft Ventures' portfolio company Zolar has raised €10m in a Series B financing round. We welcome Baywa r.e. Energy Ventures and Inven Capital as new shareholders in the company. The existing investors Statkraft Ventures, Heartcore Capital and Partech Ventures have participated in the round.

Zolar makes it easy for homeowners to go solar
For homeowners, buying and installing a solar and battery system is often complex, time consuming and not transparent. Zolar has revolutionized how homeowners buy solar through its digital end-to-end platform accessible on Customers are accompanied through the entire process from planning and component selection to insurance and financing, all the way to the final installation by Zolar's experienced technicians. The platform was designed to be particularly user-friendly so that individuals with limited or no prior knowledge can make informed choices. Zolar has simplified access to renewable energies and enables its customers to effectively contribute to the fight against climate change.

Committed to 100% renewable energy
Alex Melzer, the Founder and CEO of Zolar, has been working in the solar sector for more than 10 years and has successfully built up several companies in the solar industry. Melzer’s stated purpose is a livable future that is based on 100% renewable energies. He points out that, “with the expansion of privately generated solar energy, Germany, Europe and the world could technically be supplied with 100% renewable energies. A fast fossil-fuel phase-out and a sustainable energy and mobility transition are thereby no longer merely a vision of the future.”

Steffen Funck, Investment Manager at Statkraft Ventures comments: "We are happy to continue to support Zolar following our initial investment in 2017. The company has achieved impressive growth since and is well positioned to serve consumers in Germany and beyond with renewable solutions for all their energy needs. We are convinced that by combining the convenience of online shopping with a growing consumer desire to participate in the fight against climate change Zolar will be a key player in the future of energy."