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Greek Energy Company Brite Solar Raised €8.6M For Improving Solar Glass Technology

Solar panels in a field
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Only have 1 minute? Here are 3 key takeaways: 

  • Brite Solar, a Greek-founded energy solutions company utilizing advanced nanotechnology materials, secured €8.6M in Series A funding.
  • NEP (New Energy Partners) led the round, with participation from existing investors, including EIC Fund, Brace Agri Solar Holdings, and Deep Investments Limited.
  • The funding will be used for further development and installation of the solar glass production line, while expanding their operations in Patras.

 

Brite Solar, a Greek-founded company with headquarters in Thessaloniki, providing energy solutions through the deployment of advanced nanotechnology materials, secured €8.6M in Series A. The round was led by NEP (New Energy Partners), while EIC Fund (50%), Brace Agri Solar Holdings, and Deep Investments Limited participated as existing investors.

Brite Solar, established in 2010, produces energy-generating glass suitable for homes and office buildings and aims to develop innovative ways for turning solar power into electricity.  The new investment is going to be used for further development and installation of their solar glass production line.

The founder and CEO, Dr. Nick Kanopoulos, has a background in electrical and computer engineering. Recognizing the energy needs for climate-smart agriculture, he developed the idea of ​​transparent photovoltaic panels that can be used in agriculture.

The nanomaterial, developed by Brite Solar, absorbs UV radiation and re-emits it in the visible spectrum. This leads to an increase in energy for the plants and greater efficiency for the solar cells.

Brite Solar is currently in the process of establishing a new unit in Patras. The company aims to finalize the production line and prepare for a launch by the end of the year. The first selection is planned to be operational by April 2024. 

New Energy Partners, leading the current round, is a Greek VC firm, focused on investments in renewable energy, energy efficiency, transition fuels, and energy-related technology in the Greek Energy Transition space.

Read more:  Bansko is The Digital Nomad Capital This Summer. Come and Meet Your Soul Tribe!

 

*This is a story in dеvеlopmеnt. Expеct morе dеtails soon. 

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https://therecursive.com/author/teodoraatanasova/

Teodora Atanasova is a News Editor at The Recursive. She covers everything around funding rounds, exits, startups expanding to international markets, big tech opening R&D in CEE, meaningful for the ecosystem partnerships.