Estonian Solar Roofing Manufacturer Solarstone Raises €10 Million
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The Estonian-based solar roof company Solarstone has completed 700 solar roof installations in 8 countries. Recently, Solarstone raised a good amount of funding for growth too. With the help of a local asset management company, the company raised €10 million to support future plans.
An email to CleanTechnica shares that Solarstone intends to expand building-integrated solar PV solutions across Europe with these funds. The expansion will also help set up the development for installations beyond Europe. The company’s mission is to make building-integrated solar solutions the standard in residential and infrastructure construction.
According to Silver Aednik, co-founder and CEO of Solarstone OÜ, energy production and consumption patterns are undergoing a major shift, with prosumer-generated capacities balancing the shortcomings of centralized energy generation.
“The shift has led many to look towards adding their production capacity to where they live. Solarstone’s technology removes all barriers to making it happen as it makes it profitable, beautiful & climate conscious of adding solar directly to where they live,” states Silver.
The company is actively recruiting proptech experts to grow private and business segments. They will develop the teams in Estonia and other strategic markets. Solarstone is concurrently investing in software solutions to aid stakeholders in the construction industry to design and procure solar power plants efficiently.
“Existing BIM models already facilitate the work of architects and engineers. Soon, implementation of modern satellite technology and an all-inclusive ecosystem platform will provide simple tools to design and deliver the most suitable integrated solar plant for all market players,” added Silver.
Leading this second round and most recent investment was Biofuel OÜ. Sunly, a leading renewable energy company in the Baltics, joined the company in 2019. Biofuel OÜ, an asset management company, is focused on environmentally friendly wood refining and sustainable forest management. The focus on sustainable energy management and production suits this investment.
“Solarstone stands out from other solar solution providers with smart technology, which helps avoid unnecessary material and production costs in creating modern roofs. Innovative software and a proprietary hardware component provide a good impetus for the green revolution,” comments Biofuel’s CEO Andreas Laane.
PV magazine reports on the specs of the Estonian startup’s solar tiles: Solarstone has developed two solar tiles with an efficiency of up to 19.5% and an operating temperature coefficient of -0.41% per C.
“One of the two solar tiles, dubbed Solarstone 90 W, has a power conversion efficiency of 19.5%, an open-circuit voltage of 11.22 V, and a short-circuit current of 9.58 A. It has dimensions of 1,530 mm x 395 mm x 31 mm and weighs in at 7 kg. The tile relies on eight cells measuring 156 mm x 156 mm and 3.2 mm prismatic glass. The second tile, called Solarstone 108 W, has a larger size of 1,824 mm x 389 mm x 22 mm and a weight of 8 kg. It features an efficiency of 19%, an open-circuit voltage of 12.9 V, and a short-circuit current of 8.39 A.”
All images courtesy of Solarstone
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