Limburg light solar panel manufacturer becomes heavyweight thanks to multi-million dollar investment

The Limburg Energy Fund is investing 1.5 million euros in solar panel manufacturer Solarge. The Weert-based manufacturer, known for its lightweight solar panels, thus welcomes the fund as a shareholder. With the money, Solarge will expand its production.

Solarge specializes in lightweight solar panels made of plastic. By using plastic instead of glass, the Limburg-based company's panels weigh 50 percent less than an average one on the market. Also, Solarge solar panels are more durable to produce and can be reused in the production of new panels at the end of their life (about 25 years).

Lightweight

The lower weight of solar panels makes them ideal for use on rooftops. Regular panels are often too heavy for this purpose. Solarge's lightweight panels can be installed on these roofs without extensive roof reinforcement. This makes it possible to install solar panels in many more locations. Solarge stated last year that it is talking about 200 square kilometers of additional roof area in the Netherlands.

1.5 million euros

The Limburgs Energie Fonds, an investment fund focused on sustainable projects in Limburg, has announced it will invest 1.5 million euros in Solarge. In doing so, the fund will also become a shareholder of the solar panel manufacturer. Solarge said it will use the funding to scale up its production. Last year, Solarge opened its first factory in Weert, which enables the company to produce 200,000 solar panels annually. It is now looking at a second facility.

Jan Vesseur, CEO of Solarge, says about the financing, "The investment from the Limburgs Energie Fonds allows us to make our innovative, lightweight solar panels available to a wider audience over the long term. We are delighted that the fund shares our vision and supports us in our mission to accelerate the energy transition."

Source: Change Inc