Delft-based SOLHO, an energy company that specializes in large thermo-solar plants, announced on Tuesday, March 14 that it has raised €580K from SHIFT Invest, Rabobank, and a group of business angels.
SHIFT invested in SOLHO from the Thematic Technology Transfer Fund (TTT) in collaboration with four Dutch technical universities (WUR, TU/E, UT, and TU Delft), TNO and RVO.
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SOLHO says the capital will allow it to accelerate its growth, with a focus on industrial applications in the Netherlands and Italy. As a result, the company will use the funds to expand its headcount.
“We are pleased to announce this investment round, with which we aim to enter the Italian market, whose industrial sector is still highly dependent on gas consumption,” says Adriano Desideri, CEO and co-founder of SOLHO.
Solho: Spin-off of TU Delft
SOLHO was founded in 2017 by a team of Italian researchers from TU Delft and ETH Zurich.
The Dutch firm provides solar thermal systems designed to heat and cool large enterprises using solar power instead of gas, thereby reducing greenhouse gas emissions, eliminating dependence on non-renewable fossil fuels, and Expenses come down significantly.
SOLHO focuses on sectors such as greenhouse, food and beverage, textile, chemical, heating and cooling network and paper industry.
In Italy, the company claims to be the only company offering turnkey solar thermal solutions or HaaS (heat as a service) contracts.
end dependence on fossil fuels
SOLHO says its technology, called SPRHOUT, is capable of converting solar energy into heating and cooling, producing hot water up to 95°C and cold water down to 7°C, depending on demand.
To make industrial processes more efficient and cost-effective, SOLHO evaluates a company’s energy use and installs the appropriately sized SPRHOUT system.
SPRHOUT’s complete package solution includes system procurement, monitoring and maintenance services, which can cover up to 100% of a company’s energy needs for heating.
Alternatively, the company’s HaaS or heat purchase option involves the company financing, building and managing SPRHOUT, while businesses can purchase thermal energy directly from SOLHO at a fixed rate.
This allows companies to buy the energy they need at a low price and at a guaranteed fixed rate, without the risk of uncontrolled increases in costs or lack of supply.
Currently, the Dutch company operates worldwide with projects in France, the Netherlands, Saudi Arabia and Italy.
SHIFT Invest is a Dutch Impact Venture Capital Fund that invests in innovations related to food and agriculture, green industry, circular economy, energy transition and sustainable mobility and logistics.
Janneke Bik, partner at SHIFT Invest, says, “SOLHO has developed unique capabilities in solar heating systems that significantly cut CO2 emissions. Therefore, this investment fits perfectly with our fund’s strategy and we look forward to helping the team grow with our background, experience and network.
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