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Western Pomerania-based solar company Solarlite has raised €4.5m to develop small- and medium-scale solar thermal plants in Thailand, where it already has a foothold, and other international markets.
The company said the capital lays the foundation for its continuing global expansion, and unveiled plans to invest further in the research and development of new and enhanced solar thermal technology.
The funds were raised from a mix of existing and new investors including BonVenture Group, which has invested in the firm since 2007, and Sirius EcoTech Fonds Düsseldorf. Technologiefonds Mecklenburg-Vorpommern also joined the round as an institutional investor.
‘The fact that domestic and international investors are convinced of our company’s growth potential shows that Solarlite is an attractive investment. The capital raised will enable us to achieve our ambitious goals in the coming years,’ said Solarlite CFO Moritz von Plate.
Solarlite develops and builds decentralised solar thermal parabolic trough plants of up to 30MW, for combined heat and power generation. Following the latest investment round, Solarlite said it expects to concentrate on the development of further projects in Thailand in the short term. Solarlite is already developing the first commercial 5MW solar thermal parabolic trough plant based on direct steam generation in Thailand, which the company said will operate within the next few months.
