Renewable

March 19 (Renewables Now) - German green energy start-up Zolar GmbH said this week it has received a EUR-10-million (USD 11.9m) investment led by global investment firm Energy Impact Partners.

The investment is part of an ongoing Series B funding round, bringing the total amount raised to EUR 35 million. The Berlin-based company said it continues to be supported by existing investors in the Series B capital raising.

Zolar will use the funds for expansion as it wants to position itself as a next-generation green energy company focused on the integration of solar energy production, electric mobility and power storage in private households, which allows customers to become more independent of energy supply systems and help with climate protection.

Matthias Dill, managing partner of Energy Impact Partners, said that Zolar is one of the fastest growing energy start-ups in Germany. "The combination of technological state-of-the-art platforms, customer success and climate protection is a clear formula for success for us," commented Dill.

"In the past year, we have been able to grow our revenue significantly, and in 2021, we are targeting to triple installations across Germany," said Zolar, chief executive and co-founder Alex Melzer.

(EUR 1 = USD 1.192)

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