(ADPnews) - May 13, 2011 - European clean tech private equity firm WHEB Partners announced this week it had decided to invest in pvXchange, a Berlin-based B2B exchange platform for photovoltaic (PV) components.
The amount of the investment remained undisclosed.
WHEB Partners said it saw strong potential in pvXchange, whose trading volume had increased by 100% in each of the last four years.
In 2010 the platform traded 184MW of solar modules.
Joerg Sperling, who is partner at WHEB, said his company had estimated the addressable market for the service provided by pvXchange at 7 GW, or EUR 10.7 billion (USD 15.3bn) in 2010. By 2015, the market should grow to 21.6 GW, or EUR 19 billion, according to WHEB's assessment.
PvXchange welcomed the investment. The company's founder and managing director, Kai Malkwitz, commented that WHEB's expertise in clean technology brings a valuable outside perspective to pvXchange.
PvXchange is active in Europe, the United States, Canada and eastern Asia.
(EUR 1.0 = USD 1.426)