Equity boost for solar solutions company
French cleantech firm mylight150 has raised €100 million ($109 million) of new equity to accelerate the expansion of its solar and smart energy management solutions.
The Lyon-based company raised growth capital from investors including real estate investment manager Azora Capital as well as Eiffel Investment Group, Andera Partners and existing investor Elevation Capital Partners.
Founded in 2014 by co-CEOs Ondine and Virgile Suavet, mylight150 aims to make solar power the primary source of energy and reduce the energy bills of European homes and buildings.
The company offers integrated residential solar solutions, bundling proprietary photovoltaic equipment (including solar panels, energy management systems, and EV chargers), digital tools, and energy management services.
Ondine and Virgile Suavet, Co-CEOs of mylight150, said: “With the development of heat pumps and electric vehicles, our technologies are becoming essential to the energy model of the future. We are excited with this investment, that enables the growth of a future champion in a critical sector for Europe's energy sovereignty.”