Entering a new year, we surveyed the current solar landscape looking at companies who had raised capital more than two years ago, are growing and have not raised additional capital. These can be good opportunity for a new investor, acquirer or partner to propel the company forward.
These companies are still performing, some investors are out of capital, some appear to have changed priorities, and some look ready for an exit. After three years of holding, the typical institutional investor is going to start looking at the door.
We suggest 20 opportunities below, as part of our ongoing coverage and actionable opportunities in the solar space.
Power Panel is a hybrid solar power system that generates electricity and hot water at the same time. Its products, which are designed for residential and commercial use, include PVT hybrid solar modules, solar thermal collectors, thermal storage tanks, dual axis tracker systems, off grid solar solutions, and rapid deploy solutions.
Total Funding: $5M
Last Funding Date: 3/12/2017
Last Funding Amount: $5M
Last Funding Investors: Rob Kornahrens
Enlight provides a comprehensive solar electricity solution for residential customers that covers the installation, monitoring and maintenance of photovoltaic systems and offers a wide range of cost-effective alternatives to traditional utilities. Founded in 2011, the Company has already established a wide presence in Mexico with over 1 MW of installed capacity in more than 10 states.
Total Funding: $2.2M+
Last Funding Date: 2/14/2017
Last Funding Amount: Undisclosed
Last Funding Investors: ENGIE and ALL Venture Partners
Insolight aims to double solar panels power generation with optics. It is making solar panels more affordable by concentrating sunlight on a smaller solar cell. Its technology redirects sunlight coming from any direction toward the concentrator, which stays at a fixed position and can be mounted like any traditional solar panel.
Total Funding: $2.39M
Last Funding Date: 1/22/2018
Last Funding Amount: $2.39M
Last Funding Investors: Zurcher Kantonalbank and investiere
ConnectDER, fka Infinite Invention (I2), is developing a meter collar that enables residential solar to connect to the grid cheaply, safely, and rapidly. The meter collar reduces upfront installation costs for rooftop solar and provides electric utilities with real-time management over distributed energy assets. In addition to gas emissions reduction when deployed at scale, ConnectDER’s solution reduces environmental damage due to fossil fuel extraction and combustion, decreases reliance on government subsidies that drive deployment of renewables, and enables the widespread deployment of highly-managed distributed energy assets to boost resiliency.
Total Funding: $2.88M
Last Funding Date: 2/15/2017
Last Funding Amount: $1.1M
Last Funding Investors: Investors’ Circle and PRIME Coalition
Solarus has created hybrid solar collector systems that capture solar radiation besides photons to generate electricity via PV panels.
Total Funding: $9M
Last Funding Date: 01/03/2018
Last Funding Amount: $1.05M
Last Funding Investors: Crowdfunded
Sigora Solar is a Virginia-based solar energy social enterprise whose mission is to provide the world with access to clean, reliable energy at a fair price. To accomplish its mission, the company helps homeowners and businesses use solar power systems to reduce their energy bills, sustain the quality of their environment, and shape the future of energy production and conservation.
Total Funding: $5.2M
Last Funding Date: 12/04/2017
Last Funding Amount: $2M
Last Funding Investors: Undisclosed
Solight is developing a solar lighting system to replace artificial lighting in all types of indoor spaces. The Solight systems collects sunlight throughout the day and effectively channels it, as natural, healthy, full spectrum, interior lighting.
Total Funding: $1.64M
Last Funding Date: 12/08/2017
Last Funding Amount: $1.06M
Last Funding Investors: Sofimac Partners
Gridless PowerCorp, formerly PowerFlower Solar, is developing a simple, mobile solar generator that aims to be lighter, smaller, easier to transport, set up, and use than any other system.
Total Funding: $1.16M
Last Funding Date: 10/17/2017
Last Funding Amount: $0.7M
Last Funding Investors: Undisclosed
Redback is a technology company focused on the development of advanced, low cost solar solutions for residential and commercial users. Redback’s integrated hardware and software technologies capture, store and manage solar energy, providing an accelerated return on investment.
Total Funding: $15.63M
Last Funding Date: 10/12/2017
Last Funding Amount: $7M
Last Funding Investors: Right Click Capital and Australian Department of Environment and Energy
PowerGen Renewable Energy facilitates energy access for communities currently not connected to national electricity networks through the development of micro-grids, offering communities affordable, reliable and grid-equivalent power.
Total Funding: $4.5M
Last Funding Date: 12/20/2016
Last Funding Amount: $4.5M
Last Funding Investors: Marc Beuls, DOB Equity, AHL Venture Partners and Billy Harbet
Oriano Solar specializes in Solar EPC (Engineering, Procurement, and Construction) for utility-scale solar power plants, solar farms, and rooftops.
Total Funding: $3M
Last Funding Date: 03/30/2017
Last Funding Amount: $3M
Last Funding Investors: SIDBI Venture
Mera Gao Power builds, owns, and operates micro grids in Uttar Pradesh, India serving off-grid villages with high quality, dependable lighting and mobile phone charging services.
Total Funding: $2.5M
Last Funding Date: 06/02/2017
Last Funding Amount: $2.5M
Last Funding Investors: ENGIE, Insitor Impact Fund and Electrification Financing Initiative
Solis Aquecedor Solar is a manufacturer specializing in solar heating systems & equipment.
Total Funding: $1.92M
Last Funding Date: 08/01/2017
Last Funding Amount: $1.92M
Last Funding Investors: Inseed Investimentos
Heliatek specializes in the development, production and commercialization of organic solar cells. Heliatek’s technology aims to enable cost-effective and efficient roll-to-roll production from large area modules on low-cost and flexible substrates. The company uses therefore well-defined, non-polymeric organic materials with high thermic and photochemical stability.
Total Funding: $156.66M
Last Funding Date: 10/13/2017
Last Funding Amount: $17.73M
Last Funding Investors: innogy Ventures, Undisclosed Investors, AQTON, E-Capital, Wellington Partners, ENGIE New Ventures, BNP Paribas and BASF Venture Capital
Waaree Energies is an integrated solar power solutions company. It provides PV modules, EPC utility grid projects, and KW rooftop solutions.
Total Funding: $15.63M
Last Funding Date: 12/20/2017
Last Funding Amount: $15.63M
Last Funding Investors: Centrum Capital
Sol Voltaics improves the efficiency of solar energy capture, generation and storage through the use of nanomaterials. A fast-growing company with a strong intellectual property portfolio, Sol Voltaics is developing a high-volume production platform for its patented Aerotaxy nanowire thin-film process. The company’s nanowire solar cell technology will dramatically improve the efficiency of conventional solar modules at competitive costs, contributing to a sustainable energy world.
Total Funding: $63.33M
Last Funding Date: 07/06/2017
Last Funding Amount: $21.3M
Last Funding Investors: Industrifonden, Watrium, Teknoinvest, Kagra Gruppen, Nano Future Invest, Blue Marlin and Foundation Asset Management
Nexamp’s capabilities span the solar project lifecycle through project development, design and construction to financing and operations and maintenance.
Total Funding: $56.89M
Last Funding Date: 06/23/2017
Last Funding Amount: $14.56M
Last Funding Investors: Undisclosed
Innovative Solar Systems is solving the energy problems of the world by installing art renewable energy solar pv systems of all types and sizes. The company offers a full range of services from initial feasibility studies all the way through turnkey installations.
Total Funding: $14.9M
Last Funding Date: 05/09/2017
Last Funding Amount: $14.9M
Last Funding Investors: Undisclosed
Vitriflex is a developer of high-performance barrier films for solar panels and flexible electronics. Vitriflex ultra-barrier encapsulation provides cost-effective protection from moisture and oxygen, improves lifetime and reliability, and has the added benefits of being flexible, thin, lightweight, and shatterproof. Vitriflex enables exciting new categories of flexible solar PV modules, flexible OLED displays, next generation mobile displays, and solid state lighting.
Total Funding: $20.55M
Last Funding Date: 03/27/2017
Last Funding Amount: Undisclosed
Last Funding Investors: Henkel Ventures
QD Solar leverages quantum dot technology that captures infrared energy that is currently wasted to develop an insert into conventional silicon solar panels, which has potential to increase energy output of solar panels.
Total Funding: $10.19M
Last Funding Date: 02/13/2017
Last Funding Amount: $7.64M
Last Funding Investors: DSM Venturing, Toronto Innovation Acceleration Partners and KAUST Innovation Fund
