As Europe moves towards a net-zero ecosystem and European Commission is looking at reducing greenhouse gas emissions, Berlin-based Solytic is betting big on photovoltaic (PV) installations.
The energy monitoring platform has now raised €2 million funding. The round was led by German energy company EWE AG and Polish fund SpeedUp Energy Innovation, powered by PGE Ventures. The additional capital will be utilised for further product development and creating AI-based care technology for PV installations.
The platform aims to increase the efficiency of PV installations which would, in turn, lead to more amount of clean energy produced. It is currently operating in the German PV market since 2017. The clean tech startup bases its software on AI, which is used to build a ‘digital twin’ of the installation.
Johannes Burgard, co-founder and CEO, Solytic said: “We are currently focusing on the development of our analytical model for the automatic performance assessment of installations. We already monitor close to 200,000 independent distributed PV installations, which translates into a huge database of more than 50 TB, which is delivered in real time to the analytics system.”
It is currently working with international brands such as Kostal and Vaillant.