Rome, 14 March 2023 – SOLHO, a high-tech company active in the energy sector and specialized in large solar systems, announces the closing of a 580 thousand euro round, thanks to the contribution of Shift Invest, renowned Dutch venture capital fund, Rabobank , one of the largest banking groups in the Netherlands and a team of business angels. The capital raised will allow SOLHO to further accelerate the growth process and continue the expansion on the Italian market, which began during 2021.
SOLHO, the energy partner for solar heating and cooling
SOLHO was born in 2017 with a very clear vision: to facilitate the energy transition of the industrial and residential sector. The company offers solar thermal systems for medium and large companies, proposing solar energy as an alternative to gas to eliminate emissions, eliminate dependence on fossil fuels and significantly reduce costs. The reference sectors are greenhouses, agri-food, textiles, the chemical sector, district heating/cooling networks and the paper industry, but its systems can also be installed in hotels and spa.
A prime-mover on the Italian market, SOLHO is the only company to offer turnkey solar thermal solutions or with HaAS (heat as a service) type contracts. Founded in Delft (the Netherlands) by Italian researchers, with over 10 years of experience in the energy and solar sector, it works all over the world, with projects in France, the Netherlands and Saudi Arabia, and from 2021 also in Italy.
Our solutions allow us to decarbonise the heat and cooling demand of the industrial and residential sectors, eliminating the dependence on fossil fuels. We are happy to announce this investment round, with which we aim to enter the Italian market, whose industrial sector is still extremely dependent on gas consumption.
Financing
The financing will be used to accelerate growth with a focus on industrial applications in the Netherlands and Italy. For this, the team will be expanded. SOLHO is proud to start collaboration with its new investor SHIFT Invest.
Janneke Bik, partner at SHIFT Invest, says: “SOLHO has developed unique know-how for solar thermal systems that substantially reduce CO2 emissions. This investment therefore fits perfectly with our fund’s strategy and we look forward to further helping the team on its journey with our background, experience and network.”
The SOLHO solution
The SOLHO system is called SPRHOUT and is a system that transforms the sun’s energy into heating (hot water up to max 95°C) and cooling (cold water up to 7°C) as needed. With an energy diagnosis, SOLHO evaluates the company’s heat needs and guarantees the correct sizing of the system to make processes more efficient and reduce production costs. The turnkey solution, which involves the purchase of a SPRHOUT system, covers up to 100% of a company’s thermal energy needs, also includes the monitoring and maintenance service and provides a return on investment of less than 3 years (average useful life of the system 20 years). The heat purchase contract, the so-called HaAS, provides for the financing, construction and management of the SPRHOUT directly charged to SOLHO and the company can purchase the thermal energy at a fixed agreed price. This solution allows companies to purchase the energy they need at a lower price than the current one with the guarantee of a fixed price, without risks of uncontrolled growth or failed supplies.
A concrete response to the 2030 Agenda 2030
Global energy consumption is continuously growing also due to the increase in the world population. 75% of the energy consumed by humanity is used for heating and cooling. This demand is today met by burning fossil fuels, resulting in more than half of global CO2 emissions from human sources. SOLHO has chosen to work with the sun because it allows us to obtain clean energy at a competitive cost, accelerating the transition towards renewable energy. Solar energy is a source of clean energy, inexhaustible over time and accessible to all free of charge which is not yet sufficiently exploited: it is the most abundant energy source on Earth. SOLHO’s activities are in line with the UN 2030 Agenda for Sustainable Development and represent a concrete response to achieving 5 of the sustainable development goals (SDGs).
SOLHO
SOLHO is a high-tech company that deals with large solar systems for the production of heat and cooling that can be used in industrial or residential settings. Born in 2017 in Delft in the Netherlands by a team of Italian researchers with over 10 years of experience in the energy and solar sector, SOLHO is active worldwide and from 2021 also in Italy. The SOLHO system is called SPRHOUT and is a system that transforms the sun’s energy into heating (hot water up to 95°C) and cooling (cold water up to 7°C) as needed. SOLHO replaces gas with the sun to eliminate emissions, eliminate dependence on fossil fuels and significantly reduce costs. SOLHO’s solutions make it possible to decarbonise the demand for heat and cooling in the industrial and residential sectors, responding in a concrete way to 5 of the sustainable development objectives set out in the 2030 Agenda. Website: www.solho.eu
SHIFT INVEST
SHIFT Invest, founded in 2009, is a Dutch venture capital fund that invests in innovations related to food and agriculture, green industries, circular economy, energy transition and sustainable mobility and logistics. Investments are aimed at achieving a positive environmental impact and an economic return. Together with its partners, SHIFT offers entrepreneurs a vast network and insights into various industries. The fund is managed by New Balance Impact Investors (NBI Investors), a team of experienced investment professionals and entrepreneurs. SHIFT invests in SOLHO from the Thematic Technology Transfer Fund (TTT), a collaboration with the four Dutch technical universities (WUR, TU/E, UT and TU Delft), TNO and RVO. The TTT Fund focuses on supporting early-stage companies bringing disruptive technologies to market with strong impact potential.
Source: https://solho.eu/en-gb/rounds-of-more-than-half-a-million-for-solho/
