Germany’s Zolar grabs $105M on soaring demand for solar energy – Yahoo Finance

Berlin-based Zolar has bagged 100 million (~$105M) in Series C funding to expand its supplier network for small solar systems to meet rising demand for clean energy.

Germany is particularly exposed to the energy crisis triggered by the war in Ukraine as it remains heavily dependent on Russian gas imports — meaning consumers there face soaring gas bills.

And while the country’s political leaders remain under huge pressure to find ways to quickly migrate to alternative energy sources to stop sending money to Putin’s regime, German householders don’t appear to be hanging around: Zolar says enquiries about installing solar systems have more than quadrupled this year — following rising energy prices.

Its Series C round is led by US investor Energy Impact Partners (EIP); and GIC, Singapore’s sovereign wealth fund. Existing investors, including Inven Capital, Heartcore Capital, Statkraft Ventures and Pirate Impact Capital, also participated.

The startup’s pitch is it’s democratizing…

Read Full Story: https://finance.yahoo.com/news/germanys-zolar-grabs-105m-soaring-095132527.html

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source: https://news.oneseocompany.com/2022/05/19/germanys-zolar-grabs-105m-on-soaring-demand-for-solar-energy-yahoo-finance_2022051920188.html

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