- Solarge has secured an undisclosed investment from 4 investors, including GroenLeven founder to go ahead with its solar panel production plans
- It will enable the company to start installing Mondragon Assembly production line in Weert, Netherlands with 100 MW annual capacity
- The facility is planned to start rolling out panels in January 2023 with 100,000 target for the 1st year of production
Netherlands based manufacturer of lightweight solar panels Solarge that claims its products to have very low carbon footprint, has secured financing from new investors bringing it enough capital to go ahead with a planned solar panel fab with 100 MW annual capacity. In time, it plans to expand this fab to 350 MW.
Investors include Sytse Bouwer of GroenLeven, along with 3 other informal investors that have altogether pooled in an undisclosed but substantial amount in the company.
With the capital in, the Dutch manufacturer plans to start installing the new production line supplied by Mondragon Assembly at its Weert production site in September 2022, with a deadline of January 2023 to start module supply to customers. Per annum production capacity, starting as of 2023 from the 100 MW fab, is planned to be 100,000 panels.
“In the Netherlands, the use of solar power is expected to grow by at least a factor of 10 in the coming 30 years. After which the market for replacement PV panels will be enormous,” said Solarge CEO Jan Vesseur. “We are delighted that we can get going with the real work and can configure our production line in Weert, where we have found the ideal location.”
The company also counts carports, rooftops and offshore segments as potential sites for its lightweight modules to be deployed.
Solarge claims its panels release up to 75% less carbon during manufacturing process since it uses thermoplastic polymers which ensures the panels can be easily disassembled at the end of their operational life and components reused. Yet, the panels produce same amount of electricity as conventional glass modules.
In 2021, Solarge secured investment from Dutch construction firm VORM for the construction of 300 MW solar panel fab in Eindhoven through the latter’s investment vehicle Shape Capital which was planned to enter construction in the spring of 2022 (see Europe PV News Snippets: VORM, Iberdrola, Powertis).