Harnessing the power of the sun, Estonian green tech company Solarstone has raised €10 million in funding to develop solar solutions that can help generate a shift in energy generation and usage. The round was led by Biofuel OÜ.
Founded by Mait Kukk, Mattis Jürimäe and Silver Aednik, Solarstone aims to encourage the use of solar from the beginning to change how energy is generated in European households. It produces a solar panel, which is a building-integrated roofing material (BIPV).
The new cash will improve the startup’s efficiency in the market to standardise building-integrated solar solutions in residential and infrastructure construction across Europe. The company has installed 7000 solar roofs in 8 countries till date.
CEO and co-founder Silver Aednik said: “This fresh funding will enable us to upgrade production and develop the teams in Estonia and other strategic markets. Solarstone will also invest in software solutions that empower stakeholders in the construction industry to design and procure solar power plants more effectively.”
Biofuel’s CEO Andreas Laane, added: “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.”