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Tallinn-based Soldera has secured €1.6M in non-dilutive funding through the EIS Applied Research Grant, just nine months after closing a €2.5M round led by Lifeline Ventures, Alumni Ventures, and Lemonade Stand.
The company is building what CEO Stenver Jerkku calls “the Stripe for renewable energy” – a platform that automates the management and trading of Guarantees of Origin (GOs), certificates that verify renewable electricity production across Europe.
Upgrading a fragmented analogue market
Europe’s renewable energy certificate market operates through 30+ separate national registries, with minimal standardisation. As the company explained to Tech.eu, roughly half of these registries lack APIs, with some still relying on fax machines, spreadsheets, and manually updated Excel files. Opening accounts can cost up to €5,000 per country annually, with months-long bureaucratic processes.
For multinational corporations seeking to source renewable energy across multiple countries, this means navigating completely different registries, rules, and audit requirements in each market – requiring large internal teams or expensive brokers.
2025 marked a turning point for Soldera. The company achieved 10x revenue growth, scaling from €150,000 to €1 million with consistent 30% month-on-month growth. The platform now serves over 4,000 renewable energy plants and more than 500 corporate customers across 15 regions, including Fortune 500 companies and one of the world’s 20 largest asset managers.
“We’re working with roughly 4,000 power plants and more than 500 corporate customers,” Jerkku told Tech.eu, noting that the company discovered corporate buyers faced even more acute pain points than producers.
AI-powered infrastructure as a solution
Soldera uses AI to integrate with all European registries – whether through APIs, document parsing, or automated reconciliation – normalising everything into a single platform. This automation handles the full lifecycle of energy attribute certificates: issuance, transfer, cancellation, audit trails, and reporting.
The impact is substantial. For renewable energy producers, Soldera boosts revenues by 10-15% by removing intermediary layers and reducing administrative overhead by up to 95%. For corporates, back-office compliance costs drop by 25-40%.
The 11-person team is actively hiring, targeting talent from unicorns and major companies like Bolt, Trimble, LHV, and Glia. But growth is intentionally measured.
“Our ambition is to build a European infrastructure-scale company – potentially a unicorn – with fewer than 30 people, each operating at 10x leverage through automation,” Jerkku explained.
The company operates in a €13 billion market projected to reach €80B by 2030, as noted by Arileht. Despite political headwinds around ESG in some markets, regulatory requirements like CSRD and Scope 2/3 reporting continue driving corporate demand, even as some companies practice “greenhushing” – doing the sustainability work while talking about it less publicly.
