Dutch-based Supersola, a cleantech startup that provides plug-and-play solar panels, announced that it has started a crowdfunding campaign to raise €950K in new capital through the NPEX stock exchange.
The company is issuing bonds on the NPEX stock exchange, offering investors an annual interest rate of 10 per cent.
Investors can subscribe to the bond loan from €500 with a maximum term of 60 months, reports Solar Magazine.
Supersola says it aims to use the capital infusion to increase its working capital and significantly scale its production capabilities.
The announcement comes three months after the company raised €1M from ROM InWest, Techfund One, and several members of The Investors Club.
Supersola: Plug-and-play solar panels
Founded by Julius Smith, Supersola offers a self-developed and produced solar panel that is immediately ready for use.
The company says connection can be done in three simple steps:
- Fill the ballast tanks with water
- Insert the plug into an earthed socket
The company says the solar panel supplies power to the home via a standard plug that first goes to devices that consume power at that time.
If more power is generated than consumed, Supersola supplies power back to the power network. Users can start with one panel and later connect multiple panels together to expand, claims the company.
The Dutch startup intends to partner with the biggest distributors in France (Castorama, Brico Depot) and the Netherlands (Praxis). Further, the company is planning to expand operations into Europe and the US.
Supersola also intends to actively collaborate with industry partners, participate in renewable energy initiatives and stay updated with policy changes and market trends.