Estonia-based Solarstone raises €10M to standardise building-integrated solar solutions across Europe

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Estonia-based Solarstone, a company that develops and produces building-integrated PV (BIPV) solutions to promote sustainable building principles, announced on Thursday that it has raised €10M in a fresh round of funding.

The round was led by Biofuel OÜ, an asset management company that focuses on environmentally friendly wood refining and sustainable forest management, with a specialisation in sustainable energy management and production.

This investment comes after Solarstone installed its 700th solar roof, with roofs spanning 8 countries.

Biofuel’s CEO, Andreas Laane, says, “Solarstone stands out from other solar solution providers with smart technology, which helps avoid unnecessary material and production costs in creating modern roofs. Innovative software and a proprietary hardware component provide a good impetus for the green revolution.”

Capital utilisation

Solarstone says that the proceeds will help expand the company’s building-integrated solar PV solutions across Europe and beyond. Their aim is to make building-integrated solar solutions the standard in residential and infrastructure construction.

Solarstone’s CEO, Silver Aednik, says, “Sustainable energy production needs to take place as close as possible to the end user. Every household, housing association, business or municipality can take decisive steps towards energy independence. The technology and applications already exist for new buildings, public spaces and existing housing stock. We can remove all barriers hindering wide-spread adoption of renewable technologies.”

The funds will also help Solarstone to improve its production and further grow its team in Estonia and other important regions. To expand its business and private divisions, the company is aggressively hiring proptech specialists.

Solarstone is also investing in software solutions that helps stakeholders in the construction industry to design and procure solar power plants more effectively.

Replacing traditional roof tiles with solar modules

Founded in 2015 by Silver Aednik, Mattis Jurimae and Mait Kukk, Solarstone building-integrated solar panels (BIPV) perform as regular roofing material while harnessing solar energy. The company develops and produces building-integrated solar panels that interlock “perfectly” with any type of roof tiles.

Solarstone modules are mounted directly into a wooden batten without the use of expensive mounts or fittings. Whether one wants to remove current roof tiles or construct a new roof, Solarstone functions both ways without extra hassle.

According to co-founder Silver Aednik, “Energy production and consumption patterns are undergoing a major shift, with prosumer-generated capacities balancing the shortcomings of centralised energy generation. The shift has led many to look towards adding their production capacity to where they live. Solarstone’s technology removes all barriers to making it happen as it makes it profitable, beautiful and climate conscious of adding solar directly to where they live.”

“Existing Building Information Modeling (BIM) models already facilitate the work of architects and engineers. Soon, implementation of modern satellite technology and an all-inclusive ecosystem platform will provide simple tools to design and deliver the most suitable integrated solar plant for all market players,” adds Aednik.

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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