After raising €3M, Dutch-based Solarge secures €1.5M from Limburg Energy Fund (LEF): Know more

Limburg, the Netherlands-based Solarge, a manufacturer of lightweight, circular, and PFAS-free solar panels, announced recently that it has secured €1.5M from the Limburg Energy Fund (LEF).

With this investment, LEF will join the shareholder structure of Solarge.

The Dutch company will use the funds towards the further scaling up of the current production location in Weert and the intended construction of a second production facility.

The announcement comes three months after raising €3M from impact funds — Phase2.earth and Orchard Participations, along with existing investors like Daan van der Vorm and Sytse Bouwer.

Jan Vesseur, CEO of Solarge, says, “The investment of the Limburg Energy Fund enables us to make our innovative, lightweight solar panels accessible to a wider audience in the long term. We are delighted that LEF shares our vision and supports us in our mission to accelerate the energy transition.”

Solarge: Promoting a sustainable energy transition

Founded in 2018 by Jan Vesseur, Huib van den Heuvel, and Gerard de Leede, Solarge is a scale-up based in Eindhoven’s High Tech region specialising in solar technology.

It aims to lead in integrating lightweight solar solutions into building environments. 

The Dutch company claims that its solar panels are environmentally friendly with a low CO2 footprint, free of Per- and Polyfluorinated Substances (PFAS), recyclable, and customisable for partners.

This approach, combined with competitive pricing, looks to transform solar applications worldwide.

The investor

The LEF was established by the Province of Limburg and is managed by Polestar Capital.

The LEF is an impact fund and is classified as a dark green fund (Article 9 fund) under the Sustainable Finance Disclosure Regulation (SFDR).

The fund ensures the realisation of promising Limburg projects in the circular economy, energy saving, sustainable energy generation, or asbestos removal.

The LEF provides the project with part of the financing for this in the form of risk capital or a (subordinated) loan.

This fund is made possible in part by the Province of Limburg, the European Investment Bank, and the European Fund for Strategic Investments (EFSI).

Jan-Willem König, General Manager of the Limburg Energy Fund, says, “With their innovative, circular, and PFAS-free solar panels, Solarge makes an essential contribution to the energy transition. LEF is proud to support Solarge in their further growth, with which we strive together for a greener future, made possible by Limburg innovation”