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Estonia’s solar roof producer Solarstone raises €10M to fund expansion in Europe

Estonian CleanTech startup Solarstone raises 10 million euros to expand the building of integrated solar roofs across Europe.

The investment enables Solarstone to upgrade both software and production, develop the company’s team and expand the market in Europe.  To make designing and producing solar power plants more efficient, Solarstone invests in software solutions used by the construction industry stakeholders.

“Soon, implementation of modern satellite technology and an all-inclusive ecosystem platform will provide simple tools to design and deliver the most suitable integrated solar plant for all market players,” says Silver Aednik, Solarstone’s co-founder and CEO.

According to Aednik, energy production and consumption patterns are undergoing a major shift, with prosumer-generated capacities balancing the shortcomings of centralized energy generation.

“This shift has led many to add additional manufacturing capabilities to their personal living space. Solarstone technology removes all barriers to making this happen, making adding a solar roof to a home profitable, beautiful and climate-conscious,” says Aednik.

The investment round was led by Biofuel OÜ, an Estonian company focusing on environmentally friendly wood refining, and sustainable forest management with a clear focus on sustainable energy management and production.

“Solarstone stands out from other solar solution providers with smart technology that helps avoid unnecessary material and production costs when creating modern roofs. Innovative software and a proprietary hardware component provide a good boost to the green revolution,” says Biofuel’s CEO Andreas Laane.

It is Solarstone’s second funding round. Sunly, one of the leading renewable energy companies in the region, joined the company in 2019 and helped to grow the solar roof production volume significantly – from tailor-made roofs to mass production of about a thousand roofs per year.

Founded in 2015, Solarstone has installed 700 solar roofs in eight countries.

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