Lausanne – Insolight has closed a financing round with CHF 4.85 million. With this, the company aims to expand its photovoltaic solutions for agriculture to large installations and new target crops. In addition, they are to be used worldwide.
With its latest financing round of CHF 4.85 million, Insolight aims to expand its business, according to a media release. Plans are now underway for large photovoltaic systems for agriculture, new target crops and a worldwide expansion of the market.
So far, the Lausanne-based company has demonstrated in test facilities that it is possible to simultaneously produce electricity and efficiently produce agricultural products underneath with its agro-photovoltaic systems. In October 2021, Insolight launched a successful pilot project together with the energy provider Romande Energie at the research site of Agroscope, Switzerland’s center of excellence for agricultural research in Conthey VS.
In April of this year, Insolight announced a successful experiment in collaboration with the Institute for Environment and Natural Resources at the Zurich University of Applied Sciences: The fresh weight of the first winter planting of lamb’s lettuce under its special photovoltaic panels was 15 percent higher than that of lettuce planted conventionally for comparison.
According to Insolight, this financing round, which has just been completed, strengthens the investment structure with the main investors, the Smart Energy Innovation Fund of energy and mobility provider Energie 360° and Demeter, the European venture capitalist for agricultural technology and cleantech. Cyrille Cabaret of Demeter joins Insolight’s Board of Directors. Insolight CEO Laurent Coulot expresses his delight that his company now not only has Agritech and energy experts on board, but is also expanding its network to France and the DACH region. mm