Heliup, a French startup that develops and produces lightweight photovoltaic panels, has raised €10M in funding. The company aims to transform the large roofs of existing buildings into a clean energy source.
Starquest Capital led the financing round, along with participation from EIT InnoEnergy, BNP Paribas Développement, and IDEC Group. Regional branches of BPI France, the France 2030 investment plan, and several other banks also back the financing.
Announced on October 5, the financing will enable Heliup to invest in a production line for lightweight solar panels in France and accelerate its commercial development.
The industrial line, with an initial capacity of 500,000 m²/year (100 MWp/year), will be operational during 2024 to meet the strong demand for solarisation of roofs currently poorly covered by existing solutions, as the weight of conventional panels is incompatible with the structure of buildings.
Yannick Veschetti, President of Heliup, says, “We are extremely grateful to our investors for their continued support of our vision to make solar energy more accessible and efficient than ever. This fundraising will enable us to accelerate our mission to contribute to the transition to cleaner energy.”
Sustainable photovoltaic panels
Heliup develops and produces photovoltaic solutions for large roofs on buildings (commercial, industrial, logistics, local authorities, etc.). Equipped with a special integration system, they reduce the weight of the solar power plant by over 60 per cent with significant time and cost reduction.
The company claims, at the end of the first industrial phase, its technology will avoid more than 500,000 tonnes of greenhouse gas emissions and save more than 7,000 tonnes of aluminium, 14,000 tonnes of glass, and 30,000 tonnes of steel compared with ground-mounted solar power plants.
At the moment, Heliup has developed two types of solar panels, namely Stykon and Lighton. The silicon cells-based Stykon is used in flat roofs, with an innovative, quick, and simple installation system with adhesives for waterproofing.
Lighton is instead dedicated to pitched roofs, being based on ultra-thin glass technology. Scheduled for market release in 2025, Lighton will feature a fastening system optimised for this substrate.
Making solar energy accessible
Heliup’s photovoltaic panels will transform rooftops into clean energy sources, reducing the carbon footprint of buildings and contributing to the fight against climate change by promoting self-consumption to energy consumers.
The startup aims to internationalise the use of its photovoltaic panels. Starting by commencing Europe-based projects, Heliup looks forward to expanding its services beyond France in the upcoming years.
“EIT InnoEnergy is proud to support Heliup in its acceleration. We are convinced that this experienced and effective team will bring an efficient and sustainable solution to finally cover 80 per cent of today’s commercial building market,” says Johanne Ulrich, Investment Director at EIT InnoEnergy France.
“The startup has already accelerated significantly since its creation, and the support offered by InnoEnergy will enable them to go even faster and further in their development,” adds Ulrich.
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