French startup Heliup, specializing in lightweight photovoltaic panels, has secured €10 million in funding to drive its mission of converting large roofs on existing buildings into clean energy sources. The financing round was led by Starquest Capital and saw participation from EIT InnoEnergy, BNP Paribas Développement, and IDEC Group, along with support from regional branches of BPI France and the France 2030 investment plan.
The capital injection, announced on October 5, will facilitate Heliup’s investment in a production line for lightweight solar panels within France and expedite its commercial expansion. The production line is expected to have an initial capacity of 500,000 square meters per year (100 MWp per year) and is set to become operational in 2024. This expansion is a response to the growing demand for solarizing roofs that conventional panels cannot support due to their weight, making existing solutions incompatible with building structures.
Yannick Veschetti, President of Heliup, expressed gratitude to the investors for their support in advancing their vision of making solar energy more accessible and efficient. He noted that this funding would help accelerate their mission towards a cleaner energy transition.
Heliup specializes in developing and manufacturing photovoltaic solutions designed for large roofs on various types of buildings, including commercial, industrial, logistics, and local authorities. These solutions are equipped with a unique integration system, significantly reducing the weight of solar power installations and, in turn, the associated time and costs.
The company anticipates that its technology will, during its initial industrial phase, prevent over 500,000 tonnes of greenhouse gas emissions while conserving more than 7,000 tonnes of aluminum, 14,000 tonnes of glass, and 30,000 tonnes of steel in comparison to ground-mounted solar power plants.
Heliup’s current product portfolio includes two types of solar panels: Stykon and Lighton. Stykon, which is based on silicon cells, is designed for flat roofs and features an innovative, quick, and straightforward adhesive-based installation system for waterproofing.
On the other hand, Lighton is tailored for pitched roofs and relies on ultra-thin glass technology. This variant is slated for market release in 2025 and will feature an optimized fastening system for this type of substrate.
Heliup’s photovoltaic panels aim to transform rooftops into clean energy sources, thereby reducing the carbon footprint of buildings and contributing to the global effort to combat climate change. By promoting self-consumption of solar energy, Heliup envisions making solar power more accessible and widespread among energy consumers.
The startup has set its sights on international expansion, initially focusing on projects within Europe before venturing beyond France’s borders in the coming years.
Johanne Ulrich, Investment Director at EIT InnoEnergy France, expressed pride in supporting Heliup’s acceleration, stating that they believe the company’s experienced and effective team will provide an efficient and sustainable solution for the commercial building market. Ulrich emphasized that the startup’s significant progress since its inception would be further accelerated by the support from InnoEnergy.
Heliup’s innovative approach to making solar energy more accessible and sustainable reflects the broader trend of transitioning to cleaner and more efficient energy sources. As the startup advances its mission, it holds the potential to play a pivotal role in reshaping the renewable energy landscape.