Brite Solar Shines Bright €8.6M Boost For Solar Glass Production

Brite Solar, a pioneer in energy solutions leveraging advanced nanotechnology materials, has successfully raised €8.6 million in a Series A funding round led by NEP.

Thessaloniki-based Brite Solar, a pioneer in energy solutions leveraging advanced nanotechnology materials, has successfully raised €8.6 million in a Series A funding round led by New Energy Partners (NEP). The newly secured investment is earmarked for the continued development and installation of Brite Solar’s solar glass production line.

The funding also saw participation from existing investors, including the European Innovation Council (EIC) Fund (50%), Brace Agri Solar Holdings, and Deep Investments Limited.

Founded in 2010 by Dr. Nick Kanopoulos, an accomplished professional with a background in electrical and computer engineering, Brite Solar has been at the forefront of developing groundbreaking transparent photovoltaic panels. These panels, capable of generating energy, are tailored for use in residential and commercial structures. The company’s primary goal is to revolutionize solar power conversion into electricity.

The company envisions further advancing its proprietary nanomaterial, designed to absorb UV radiation and subsequently re-emit it within the visible spectrum. This unique technology not only boosts energy absorption for plants but also enhances the overall efficiency of solar cells.

Dr. Kanopoulos, the visionary founder and CEO of Brite Solar, recognized the pressing energy needs in climate-smart agriculture. His brainchild, transparent photovoltaic panels, seeks to address these needs by providing an innovative solution for sustainable energy generation.

The nanomaterial developed by Brite Solar is a game-changer in the industry. By absorbing UV radiation and converting it into the visible spectrum, the technology not only aids in more efficient solar power generation but also has a positive impact on agriculture. This dual-purpose approach aligns with the company’s commitment to creating solutions that are environmentally sustainable and economically viable.

Brite Solar’s strategic plans include the establishment of a new unit in Patras, signaling expansion and dedication to advancing its technology. The company is actively working towards finalizing its production line, with the ambitious goal of being ready for launch by the end of the year. The first operational selection is slated to be in action by April 2024.

New Energy Partners (NEP), the lead investor in the Series A round, is a prominent Greek venture capital firm. NEP specializes in investments in renewable energy, energy efficiency, transition fuels, and technology related to the Greek Energy Transition space.

The firm’s commitment to supporting Brite Solar aligns with the shared vision of fostering advancements in sustainable energy technologies.

The Series A funding not only represents a significant milestone for Brite Solar but also underscores the growing importance and interest in innovative energy solutions. As the global community continues to grapple with the challenges of climate change, investments in companies like Brite Solar highlight the industry’s commitment to driving positive change through cutting-edge technologies.

With its groundbreaking solar glass technology, Brite Solar is poised to play a pivotal role in the transition towards cleaner and more sustainable energy solutions. As the company moves forward with its expansion plans and product launches, the impact of its nanotechnology-driven approach on both energy production and agriculture is eagerly anticipated.

Brite Solar’s journey exemplifies the potential for technology to address complex challenges, offering a glimpse into a future where energy efficiency and environmental responsibility go hand in hand.