Greentech startup ENVIRIA is fueling a renewable energy ecosystem, helping businesses transition to clean solar energy. The Frankfurt-based team just raised €22.5 million in Series A funding to expand its reach and impact.
The transition to clean energy is fundamental to Europe’s aim to reach Net-Zero. While governments and societies are pushing for this, it’s not necessarily a simple change for businesses to make. Aiming to help businesses participate in clean energy, German startup ENVIRIA has just secured €22.5 million for its solar energy solutions.
The round was co-led by European venture capital firm Redalpine and Galileo Green Energy, a pan-European renewable energy development and investment platform. BNP Paribas Développement and impact investor Alter Equity also participated.
Founded in Frankfurt in 2017, ENVIRIA specializes in large-scale solar-centric energy solutions and Energy-as-a-Service concepts, customized for the distinct needs of businesses. The vision behind the company is to facilitate a renewable energy ecosystem by boosting B2B participation in the energy transition. Disrupting the market, the startup wants to make Europe’s approach to energy more sustainable, and empower a new generation approach to energy use.
The startup offers easy access to solar by leveraging its in-house commercial and technical capabilities as well as its tailored financial expertise. This reduces the complexity companies face in becoming energy independent while meeting energy budgets as well as growing regulatory and socioeconomic targets to decarbonize the economy.
Taking an integrated approach allows a broad spectrum of companies – whether they be small businesses or global corporates – to effectively reduce energy costs, pursue a sustainability agenda, and, contribute to the energy transition through solar.
Antonius Salis, Investment Manager at Redalpine, said: “Decentralized power production is key to a successful energy transition. ENVIRIA makes solar energy easily accessible to companies and their large roof units by providing all-in-one solar solutions without distracting its clients from their core business. The power generated can be used by the companies themselves, which will lift energy consumption from commercial roofs that currently remain widely unused.”
To date, the company has developed more than 105 commercial projects with an installed capacity of over 50MW – saving over 28.000 tons of CO2 emissions last year alone. Using the sun, ENVIRIA is harnessing the power of the planet rather than damaging it.
Melchior Schulze Brock, ENVIRIA founder and CEO, commented: “Since our founding in 2017, we have grown the company, our expertise and our network organically. We are therefore uniquely positioned to enable companies to take their green ambitions into their own hands with the help of solar. This investment will allow us to set the scene for ENVIRIA to grow into a decentralized renewable energy platform specifically for the B2B sector. We are incredibly proud to have Redalpine, Galileo Green Energy, BNP Paribas and Alter Equity onboard, as we find their diverse profiles and fundamental understanding of ENVIRIA’s mission to be valuable assets for our future.”Ingmar Wilhelm, CEO of Galileo Green Energy, added: “We are delighted to become a shareholder of such a dynamic and innovative company, led by a CEO and a management team who combine forward-looking strategies with a highly pragmatic approach to delivering energy solutions to local customers. We are convinced that solar rooftops for commercial and industrial clients will be a key element in making energy supply affordable, sustainable and secure. ENVIRIA, supported by the new team of shareholders, is very well positioned to play an essential role in promoting businesses in Germany within the European energy transition”.