Estonian startup Soldera has secured €2.5M in funding to expand its platform that automates the management and trading of Guarantees of Origin (GOs) for renewable energy producers. The funding round was led by Finnish venture capital firm Lifeline Ventures, with participation from Skaala, Lemonade Stand, and other investors.
Guarantees of Origin are certificates that verify and track renewable electricity production in Europe. These certificates are valuable because:
- They prove the renewable source of electricity
- They can be sold as a separate product from the electricity itself
- They create an additional revenue stream for renewable energy producers
Traditionally, managing these certificates involves significant paperwork and administrative effort. Many producers struggle to find buyers and secure good prices.
Soldera founders: Stenver Jerkku and Al William Tammsaar
Soldera’s AI-powered platform wants to automate the entire process of GO management with easy registration, automated sales (the platform handles all necessary paperwork and transactions) and simplified invoicing.
“Our AI-driven platform completely eliminates this administrative burden while delivering unprecedented market access and maximizing profits for producers,” says Stenver Jerkku, Soldera’s CEO.
Soldera is already used by over 3,000 renewable energy production sites, operating in Estonia, Latvia and Lithuania. Notable clients include major renewable energy producers like BaltCap Infrastructure Fund, Kaamos Energy, as well asother significant players like Vestman, Merito, and Sunsa, writes Baltic VC. The company has maintained “double-digit month-over-month growth,” according to Jyri Engeström, Partner at Lifeline Ventures.
The new funding will allow Soldera to expand, onboard more producers, and enhance the AI-driven technology.
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