From pioneering to scaling up
Solarix has been part of ROM InWest's portfolio for many years. “Solarix was one of the first parties that ROMinWest stepped in,” says Reynier de Monchy, investment manager at ROM InWest. “In recent years, there have been several rounds of financing. This Series A is a very logical continuation for us, allowing Solarix to accelerate on crucial fronts.” The new growth capital will enable Solarix to realise its international ambitions. “The Dutch construction market is challenging,” says founder Marloes van Heteren. “Projects are often delayed due to nitrogen issues, high construction costs, permits or objection procedures, among other things. In countries like Germany, Switzerland and Scandinavia, we see stronger market dynamics and favourable regulations to stimulate the development of solar energy on facades.” Solarix now works with resellers in Italy, Finland and Croatia, among others, and has ongoing projects in Germany and Switzerland. “International interest is growing, but to really scale, this investment is essential,” says Marloes.
Automation and innovation in-house
An important part of the Series A round is to further automate the assembly of the panels. Currently, this is largely done manually at the factory in Weesp. “We sell a total solution: solar panel and assembly system,” Marloes explains. “With increasing volumes, we need to take steps towards robotisation and an automated production line. Think robot arms, automatic gluing and smart packaging technology.” Solarix's unique colouring technology is also being further developed. This allows architects to choose aesthetics as well as energy generation. This combination is important, especially to further drive the energy transition within the built environment. Marloes: “We expect all facades in new buildings to generate energy in the coming years. Our facades solve grid congestion because they generate most energy in the morning and afternoon while regular solar panels do so around midday. Falling panel prices and rising costs of other façade materials are making our business case increasingly attractive. Ultimately, we want to move towards total energy concepts where the facade is a full-fledged energy carrier.”
Complex round, but with results
The funding round was intense, both parties admit. “There were many stakeholders involved, ranging from existing investors to new parties,” says Marloes. “The time pressure was high because of subsidy schemes. That created tension in the final phase. But we succeeded!” ROM InWest played an active role. Not only as an investor, but also as a sparring partner. “We remained involved in the follow-up steps,” says Reynier.
For other entrepreneurs: realism and tenacity
When asked what other entrepreneurs can learn from this journey, they are unanimous: preparation and perseverance. “It always takes longer than you think,” says Reynier. “And the whole process is often just more complex than expected.” Marloes adds: “Make sure you have good guidance. On a legal level, but also throughout your investment strategy. And stand by your mission. Even if the market is not cooperating.” Solarix wants to use the coming months to scale up and contribute to the energy transition with its facades internationally as well. With the new financing, the foundations have been laid for this next phase of growth.
