Climate-KIC supported start-up ZOLAR completes €4m financing round

• Sunstone Capital, Statkraft Ventures, Partech Ventures and Tim Schumacher invest in Series A financing round
• First online one-stop shop for customized residential solar systems
• ZOLAR Online Configurator allows homeowners to conveniently choose from a wide range of brands and components

The Berlin-based Climate-KIC supported start-up ZOLAR has completed its Series A financing round led by Sunstone Capital and Statkraft Ventures with the participation of Partech Ventures and internet entrepreneur Tim Schumacher. The financing consortium has invested €4m in the rapidly growing company to support an accelerated roll-out and extension of ZOLAR’s product portfolio.

“We founded ZOLAR on the premise of making the purchase of a solar system for any homeowner as simple and transparent as possible“, says Alex Melzer, co-founder and CEO of ZOLAR. “With the provided capital, we will pursue our vision to power every house with decentralized renewable energy systems making people’s lives energy independent”, adds Gregor Loukidis, co-founder and COO of ZOLAR.

Solar energy as the best alternative for consumers
The residential solar market is currently experiencing significant growth. Due to decreasing prices of solar modules components and battery systems, for homeowners in most countries, it is now cheaper to generate their own electricity than buying it from the grid. With solar energy, homes can lower their electricity bill effectively to zero. ZOLAR serves homeowners with a new and convenient way to configure, choose and buy customized solar and battery systems online.

“For the first time ever, solar is at the stage where it has become the consumer’s best alternative. Not only is decentralized solar power lower cost than buying electricity from your utility, it will also heat your house and fuel your car. ZOLAR is the first full-service online provider for residential solar and the team is committed to taking solar into the mainstream,” explains Jimmy Fussing Nielsen, Managing Partner at Sunstone Capital.

A solar energy configurator
On the company’s website, www.zolar.de house owners can sign-up for ZOLAR’s Online Configurator, which automatically creates a fixed-price offer for an optimal system configuration for their house. The configurator allows the user to customize a favourite system choosing from a wide range of solar module brands such as LG, Solarwatt or Trina and storage systems such as Mercedes-Benz, Varta or LG Chem without needing to have any prior knowledge. ZOLAR then takes care of the installation through its own solar experts and Germany-wide installer network.

“We are impressed by ZOLAR’s strong growth in their first year of operation. Given the favourable conditions for residential solar and considering ZOLAR’s smooth customer journey, we expect that an increasing number of households will choose to buy their solar systems online”, explains Steffen Funck, Investment Manager at Statkraft Ventures.

About ZOLAR
The Climate-KIC start-up ZOLAR is the first online provider that allows homeowners to customize their solar system on the web. Founded by Gregor Loukidis and Alex Melzer in Berlin, Germany in 2016, ZOLAR pursues the vision to power every house with affordable decentralized renewable energy to make people’s lives energy independent. The company not only actively pushes the Energiewende but also wants to lower the CO2 footprint of every house.

 
Location
Related Focus Area
Urban Transitions
Articles you may be interested in
In The News
Climathon 2020: Citizens across the globe are eager to contribute to a post-CO...

Over 4,500 citizens from around the world will join...

Climathon 2020: Citizens across the globe are eager to contribute to a post-COVID sustainable recovery
In The News
Transformative climate action and COP26: Join our webinar

Are you working to deliver transformative change for a...

Transformative climate action and COP26: Join our webinar
In The News
Madrid, Amsterdam and Milan: Three cities putting citizen participation at the...

The Extinction Rebellion or Fridays for Future global actions...

Madrid, Amsterdam and Milan: Three cities putting citizen participation at the heart of climate action
In The News
EIT Climate-KIC selected to become a member of the European Circular Economy S...

EIT Climate-KIC circular economy expert, Cliona Howie, will join...

EIT Climate-KIC selected to become a member of the European Circular Economy Stakeholder Platform
In The News
Partnering with EIT Climate-KIC on the New Accelerator: Call for Expressions o...

We are looking for new and existing EIT Climate-KIC...

Partnering with EIT Climate-KIC on the New Accelerator: Call for Expressions of Interest
In The News
EIT Climate-KIC leads collective efforts to accelerate Madrid’s transition t...

A cross- KIC (Knowledge and Innovation Community) initiative is...

EIT Climate-KIC leads collective efforts to accelerate Madrid’s transition towards carbon neutrality
In The News
New online magazine Branch explores the sustainability of the internet

This week saw the launch of Branch magazine, a...

New online magazine Branch explores the sustainability of the internet
In The News
Four EIT Climate-KIC innovators nominated for EIT Awards

Four EIT Climate-KIC innovators have been nominated to win...

Four EIT Climate-KIC innovators nominated for EIT Awards
In The News
EIT Climate-KIC selected to advise European Commission on sustainable finance

The newly created EU Platform on Sustainable Finance brings...

EIT Climate-KIC selected to advise European Commission on sustainable finance
In The News
bound4blue’s innovative wingsail technology gathers recognition across Europe

Cristina Aleixendri, Co-founder and COO of the Spanish start-up...

bound4blue’s innovative wingsail technology gathers recognition across Europe
In The News
EIT Climate-KIC and Glasgow City Region join forces, helping the region innova...

Home to one third of Scotland’s population and provider...

EIT Climate-KIC and Glasgow City Region join forces, helping the region innovate to become climate resilient
In The News
Cassetex from Bangladesh, Sosei from Uruguay and Carbon Craft Design from Indi...

More than 3,000 entrepreneurs from 56 countries participated in...

Cassetex from Bangladesh, Sosei from Uruguay and Carbon Craft Design from India win the seventh edition of ClimateLaunchpad
In The News
World’s biggest green business ideas competition now fully digital, free and...

The three-day Grand Global Final of the EIT Climate-KIC supported...

World’s biggest green business ideas competition now fully digital, free and accessible to all
In The News
Three cities building back better: Madrid, Milan and Amsterdam

EIT Climate-KIC will host a session at the 18th...

Three cities building back better: Madrid, Milan and Amsterdam
In The News
EIT Climate-KIC to work with Google on Impact Challenge

EIT Climate-KIC is delighted to announce that it will...

EIT Climate-KIC to work with Google on Impact Challenge
In The News
What role can finance play in the green recovery? EIT Climate-KIC and UNEP Fin...

EIT Climate-KIC, in partnership with the UNEP Finance Initiative,...

What role can finance play in the green recovery? EIT Climate-KIC and UNEP Finance Initiative ask leading thinkers to weigh in
In The News
EIT Climate-KIC supports European green recovery with €4 million for start-u...

EIT Climate-KIC is investing €4 million in nine climate...

EIT Climate-KIC supports European green recovery with €4 million for start-ups affected by COVID-19
In The News
The City Finance Lab calls on urban leaders to help build back better

Organised by sustainability expert South Pole, the competition for...

The City Finance Lab calls on urban leaders to help build back better
In The News
EIT Climate-KIC supported cities – Leuven, Milan, Valencia and Vienna no...

Twelve cities are in the final stage of the...

EIT Climate-KIC supported cities – Leuven, Milan, Valencia and Vienna nominated as European Capital of Innovation 2020
In The News
The climate emergency demands bold policy innovations – can cities d...

While the challenges of climate change and a global...

The climate emergency demands bold policy innovations – can cities deliver? 
In The News
EIT Climate-KIC joins circular economy side event at UN High Level Political F...

“Bold leaders are needed to drive a collaborative approach...

EIT Climate-KIC joins circular economy side event at UN High Level Political Forum on Sustainable Development
In The News
EIT Climate-KIC and Silesian Metropolis join forces to transform Europe’s la...

EIT Climate-KIC and the Metropolitan Association of Upper Silesia...

EIT Climate-KIC and Silesian Metropolis join forces to transform Europe’s largest coal region in the face of the climate crisis
In The News
Anders Wijkman represents EIT Climate-KIC at the International Society for the...

Speaking online at the inaugural Conference of IS4CE—the International...

Anders Wijkman represents EIT Climate-KIC at the International Society for the Circular Economy Conference
In The News
EIT Climate-KIC receives €8.4 million for innovation projects that stimulate...

Eleven climate innovation projects across Europe tackling COVID-19 related...

EIT Climate-KIC receives €8.4 million for innovation projects that stimulate job creation and support a post COVID-19 green recovery
In The News
CEO Kirsten Dunlop represents EIT Climate-KIC at Climate Policy Forum

On 25 June, EIT Climate-KIC attended the Climate Policy...

CEO Kirsten Dunlop represents EIT Climate-KIC at Climate Policy Forum
In The News
EIT Climate-KIC supported LOOP-Ports project wins prestigious sustainability a...

The LOOP-Ports project, led by the Fundación Valenciaport  and funded by EIT Climate-KIC,...

EIT Climate-KIC supported LOOP-Ports project wins prestigious sustainability award
In The News
EIT Climate KIC joins roundtable as Republic of Korea moves Green Deal forward

On 24 June, EIT Climate-KIC attended the 7th Green...

EIT Climate KIC joins roundtable as Republic of Korea moves Green Deal forward
In The News
EIT Climate-KIC shines at the GLF Bonn Digital Conference, the year’s la...

EIT Climate-KIC’s Director of Sustainable Land Use and member...

EIT Climate-KIC shines at the GLF Bonn Digital Conference, the year’s largest global digital conference on the environment
In The News
EIT Climate-KIC supported Climeworks raises over €67 million to expand its c...

Climeworks, the world leader in capturing CO2 from air,...

EIT Climate-KIC supported Climeworks raises over €67 million to expand its carbon dioxide removal capacities
In The News
EIT Climate-KIC supported Zeleros raises €7 million for the development of h...

EIT Climate-KIC supported Zeleros Hyperloop has completed a financing...

EIT Climate-KIC supported Zeleros raises €7 million for the development of hyperloop in Europe