Frankfurt-based ENVIRIA, a commercial and industrial (C&I) decentralised energy solutions provider, announced on Thursday that it has secured over $200M (approximately €185M) equity investment.
The capital comes from BlackRock through its Global Renewable Power IV (GRP IV) fund.
The latest financial injection will support the expansion of the already existing 500 C&I solar projects across Germany as part of the company’s growth plan.
ENVIRIA: Making solar radically easy
Founded in 2017 by Melchior Schulze Brock, ENVIRIA offers companies easy access to scalable energy-as-a-service solutions and the renewable energy ecosystem.
The startup takes on the financing, planning, installation, and operation of solar systems, as well as the integration of charging stations and energy storage.
ENVIRIA also leases company rooftop areas, operates solar systems on them, and markets green electricity.
The German company’s customised solutions challenge traditional ‘gray’ power plants and aim to gradually reduce dependence on fossil fuels.
It is estimated that German companies consume around 70 per cent of the total national electricity usage, while only around 10 per cent of suitable company roofs are equipped with a solar system.
This leaves a potential of several hundred GW of renewable energy capacity untapped, claims the company.
To date, the company has built a portfolio of 500 C&I solar projects across Germany.
ENVIRIA says it has 2,000 C&I projects in the pipeline, totalling more than 2.3GW, with a plan to realize 1.7GW by 2029, thus enabling a successful energy transition.
Melchior Schulze Brock, Founder and Chief Executive Officer of ENVIRIA says, “BlackRock brings exactly the resources we need to continue our growth – both financially and in terms of knowledge. Understanding the complex, capital-intensive nature of our business, BlackRock can support us in realizing the full potential of the C&I sector across Germany. BlackRock’s experience in working with companies in our sector globally, especially in Asia and America, has impressively shown what a successful collaboration can look like.”
The investor
BlackRock’s private markets platform focuses on investors seeking performance in infrastructure, private debt, private equity, real estate, and multi-alternatives solutions.
As of December 31, 2023, BlackRock manages $327B in liquid and illiquid alternative investments and commitments on behalf of clients worldwide.
Keith Mangan, Head of EMEA for Climate Infrastructure at BlackRock says, “Our investment in ENVIRIA adds to our strong track record of staying ahead of the curve in investing into infrastructure assets that are aligned with the energy transition, an investment theme that continues to show its growth and scalability. ENVIRIA’s unique value proposition as a full-chain PV provider is a stellar example of the deployment of scalable innovation in this sector, making this an attractive exposure for our clients.”
Dirk Schmitz, Country Head of BlackRock in Germany, Austria, and Eastern Europe says “Germany’s shift to a low-carbon economy requires significant investment in renewable power infrastructure. We are pleased to provide our clients access to this investment in a promising macroeconomic environment for climate infrastructure in Germany. With a strong German investor presence on our Climate infrastructure platform, I am excited that we will be putting our clients’ money to work through ENVIRIA locally.”
Read the orginal article: https://siliconcanals.com/news/startups/enviria-secures-over-185m/
