- Press Releases
March 17 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) said that it will invest in Berlin-based off-grid solar solutions start-up SolarWorX GmbH as part of a strategic partnership between the two parties.
The investment will be made through the start-up’s series A funding round, which will see Canadian Solar join European sustainable energy investor EIT InnoEnergy and German development finance institution DEG.
SolarWorX stands to raise a “seven-digit” amount from the investor trio and use the proceeds to expand its product portfolio and sales activities, according to the Canadian PV industry player.
The Africa-oriented start-up offers a modular off-grid solar solution called Solego, which comes in stackable modules of 80 MWh and 160 MWh of battery capacity, each capable of accommodating 50-W solar panels.
The Solego systems are compatible with all major pay-as-you-go platforms and offer voice support for Swahili, Wolof and Fula, as well as English and French.
“In Africa, everything is defined by price. Our solution cuts out the need for technicians and can be customized to accommodate individual power demands and available budgets,” said SolarWorX CEO and founder Felix Boldt.
The start-up’s upcoming smart DC grid solution is called MESH, a hardware-agnostic system that allows Solego and other 12-V battery systems users to easily share PV powered electricity between two to 100 households and small businesses.
MESH is due to be deployed in the field at a pre-commercial stage by the second quarter of 2021, the press release reads.
SolarWorX has set up a base in South Africa to sell its products to the Sub-Saharan region. Its existing key markets are Cameroon, Zambia and Nigeria.