French startup Heliup has successfully secured €10M in funding for its lightweight photovoltaic panels, with the goal of converting expansive rooftops on existing structures into a sustainable energy supply.
Starquest Capital spearheaded this funding round, accompanied by EIT InnoEnergy, BNP Paribas Développement, and IDEC Group. Additionally, several regional branches of BPI France, the France 2030 investment plan, and various banks have joined in support of this initiative.
This investment, announced on October 5, will empower Heliup to establish a production line dedicated to crafting lightweight solar panels in France and expedite its commercial expansion.
The industrial line, initially capable of producing 500,000 square meters per year (equivalent to 100 MWp per year), is set to become operational in 2024. It will cater to the burgeoning demand for solarizing roofs previously underserved by existing solutions due to the incompatibility of conventional panels with building structures.
Yannick Veschetti, President of Heliup, expressed his gratitude to the investors for their unwavering support, emphasizing their shared vision to enhance the accessibility and efficiency of solar energy. This substantial fundraising initiative will enable them to further accelerate their mission, contributing to the transition towards cleaner energy solutions.
Environmentally Friendly Photovoltaic Panels
Heliup specializes in designing and manufacturing photovoltaic solutions for large building roofs across various sectors, including commercial, industrial, logistics, and local authorities. These solutions incorporate a unique integration system that reduces the weight of solar installations by more than 60%, resulting in significant cost and time savings.
The company’s technology is expected to prevent over 500,000 tonnes of greenhouse gas emissions and conserve more than 7,000 tonnes of aluminum, 14,000 tonnes of glass, and 30,000 tonnes of steel compared to ground-mounted solar installations during the initial industrial phase.
Heliup currently offers two distinct types of solar panels: Stykon and Lighton. Stykon utilizes silicon cells and is suitable for flat roofs, featuring a novel, efficient installation system using adhesives for waterproofing. In contrast, Lighton, based on ultra-thin glass technology, is designed for pitched roofs and is set to hit the market in 2025, with an optimized fastening system tailored for this type of substrate.
Expanding Solar Energy Accessibility
Heliup’s photovoltaic panels are set to revolutionize rooftops, diminishing the environmental footprint of buildings and actively combating climate change through the promotion of self-consumption among energy consumers.
The company’s vision extends far beyond France. They plan to initiate European projects as a stepping stone to their international expansion in the coming years.
Johanne Ulrich, Investment Director at EIT InnoEnergy France, expresses the organization’s pride in supporting Heliup’s acceleration. EIT InnoEnergy is confident that Heliup’s experienced and effective team will deliver an efficient and sustainable solution, with the ultimate goal of covering up to 80 percent of the current commercial building market.
Ulrich adds, “The startup has already made significant strides since its inception, and the support provided by InnoEnergy will enable them to progress even faster and reach further in their development.”