Dutch solar tech startup Taylor raises €8M from Rubio Impact Ventures, BOM, others

Eindhoven-based Taylor, a high-tech electronics producer for solar panels, announced that it has secured €8M in a fresh round of funding.

The funding will be utilised by Taylor for product development and expanding its team both domestically and internationally. 

“We have also come a long way with that. We now have the first contracts in Belgium and France and will soon expand to Germany,” says CEO of Taylor, Michiel Roelofs, in a company statement translated from Dutch.

Investors supporting Taylor

The investment came from new investor Pension Fund ABP alongside existing investors Rubio Impact Ventures and Brabantse Ontwikkelings Maatschappij (BOM).

In a company statement translated from Dutch, Jeroen Schreur, within APG responsible for the ABP Dutch Energy Transition Fund (ANET), says, “ABP wants to help accelerate the transition to clean energy in the Netherlands, including by investing in companies with smart solutions for generation, storing and consuming energy efficiently.”

“With this investment in Taylor, ANET is supporting a technology that has proven to make panels more efficient, sustainable and safer.”

Michiel Roelofs, CEO at Taylor adds, “We are very proud that we now have one of the largest pension funds in the world behind us. It underlines the team’s performance and the trust customers give us. The foundation has been laid; now we start building.”

Making solar systems deliver more power

Founded in 2017, Taylor claims to be a leading player in the field of solar energy. It is a spin-off from Eindhoven University of Technology situated in the Brainport innovation region, a region known for its high-tech background and organisations such as Philips, ASML and NXP.

With over 45,000 products shipped, Taylor’s growth is attributed to its cell string optimiser technology. This innovation optimises individual cell strings in solar panels, boosting output by up to 20 per cent, providing better performance insights, and enhancing panel safety.

Taylor provides electronics to solar module manufacturers and supplies gateways and software to solar system installers.

With local pre- and aftersales service teams, Taylor extends support to installers. “Together we offer roof-owners the next generation in solar technology; generating more power from their roof while offering real-time insight in their solar system.”