CEZ, Baywa r.e. take stakes in German rooftop PV platform Zolar

Czech energy group CEZ and BayWa r.e. Energy Ventures led a series B round in which Germany-based Zolar, which offers digital solutions for rooftop solar and battery storage systems, raised EUR 10 million (USD 11m).

CEZ said on Monday it has acquired a minority interest in the German startup through its investment fund Inven Capital. Zolar’s existing investors Heartcore Ventures, Statkraft Ventures, a unit of Norwegian state-owned utility Statkraft AS, and investment firm Partech Ventures also participated in the round.

Set up in 2016, Zolar has developed a platform that serves as an online configurator for the planning and subsequent purchase of a rooftop photovoltaic (PV) system. Additionally, the tool provides options for insurance and financing and also connects customers with solar installers and dealers.

“Zolar is planning to focus even greater attention in the future on combinations with other technologies, such as energy management and peer-to-peer energy trading,” said Tomas Pleskac, vice-chairman of the board of directors of CEZ.

(EUR 1.0 = USD 1.104)

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