German automotive supplier Mahle GmbH will become a cooperation partner and a strategic investor in Dresden-based Sunmaxx PVT which specialises in photovoltaic thermal systems for power and heat generation.
The investment is made via newly established company Mahle New Ventures, the car parts maker said last week.
The start-up develops systems for the generation of electricity and heat from solar energy and hybrid modules which enable the utilisation of waste heat.
The partnership with Mahle is expected to add expertise in the area of thermal management. The Stuttgart-based car parts maker has developed a thermal management technology which in combination with solar know-how should open up new potentials for the development of solar systems, according to Sunmaxx PVT's founder and managing director Wilhelm Stein.
Additionally, the investment will help Sunmaxx speed up product development, expand sales channels and prepare for series production which is set to start in 2023.
”With this strategic investment in Sunmaxx, we are opening up a new business area for Mahle in the renewable energies market,” said Mahle's management board member in charge of the Thermal Management Business Unit, Jumana Al-Sibai.
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