French startup raises funds to build 100 MW ultralight solar module factory
Heliup, a subsidiary of France's Commission for Atomic Energy and Alternative Energies (CEA), has secured €10 million ($10.5 million) from a group of investors. The group of investors, led by Starquest Capital, includes EIT InnoEnergy, BNP Paribas Investments, real estate group Idec and BNI, among others.
The company said it plans to use the funding to build a lightweight solar panel production facility in France with an initial annual capacity of 100 MW. The facility is scheduled to be operational by 2024.
Stykon's ultra-light panels weigh just 5 kg/m2 and are designed for flat roofs on tertiary buildings that cannot support traditional framed panels.
"For a long time, we have been looking for a technology that would give us a strong foothold in the PV sector. We found that Heliup fulfills a need that is rarely met in the market: an ultra-light panel with resistance and performance comparable to that of traditional panels," said Emmanuel Gaudé, Managing Director of Starquest "This is a real breakthrough in a roofing market representing hundreds of millions of square meters, but currently unknown due to the lack of economically viable solutions."
Heliup said it plans to expand capacity to 200 MW or 300 MW in the future, while exploring international projects outside France.
