SolarLab raises €1.6M loan from Nefco

– Advertisement –

Aarhus-based SolarLab has secured a €1.6 million loan from Nefco, the Nordic Green Bank, aimed at enhancing its production of customized solar facades for both new and existing buildings. The funding will support the relocation of its manufacturing operations to Denmark, the installation of a new solar panel lamination line, and the establishment of a sales office in the US. Specializing in building-integrated photovoltaics, SolarLab’s innovative facades replace traditional building materials, enabling renewable energy generation on-site.

SolarLab designs and produces customised solar facades for new and existing buildings. With its innovative technology, SolarLab is a key contributor to the green transition within the construction industry. Financing from Nefco will be used to increase production capacity to meet the growing demand for energy-efficient solutions.

SolarLab’s solar facades offer a novel and unique solution for achieving renewable energy production on-site for public buildings, parking premises and production facilities. By replacing traditional facade elements with energy-producing solar facades that create a beautiful exterior design, SolarLab not only increases the potential for solar energy generation at the source of demand but also reduces pressure on land use.

“We are pleased to support SolarLab on its growth journey. SolarLab’s integrated solar facades are a fantastic solution for producing renewable energy locally. For Nefco, it is also important that the technology reduces the environmental impact of the building itself,” comments Søren Berg Rasmussen, Investment Manager, Nefco.

The loan from Nefco will support SolarLab’s internationalisation efforts, allowing the company to expand its market presence and meet the increasing demand for its innovative technology on both domestic and international markets. The company aims to insource the manufacturing of a key component by establishing a lamination line in Aarhus, Denmark, for the solar laminates used in the production of its facade elements.

“This financing from Nefco is an important step on our international journey. We already work with the best architects and developers worldwide to create innovative solar facades that both benefit the climate and are beautiful to look at. In recent years, we have seen that demand has only gone in one direction, especially in the American market where favourable tax conditions have increased investment in renewable energy and energy renovations. Therefore, we will use part of the loan to increase our presence in the US, by opening a sales office in 2025, while continuing our efforts across our other markets,” says Peter Melchior, CTO of SolarLab.

SolarLab primarily works on large-scale construction projects such as hotels, schools, hospitals and libraries. This includes both new builds and renovations, where SolarLab replaces traditional facade elements, made from concrete, stone, wood, steel or other materials, with solar panels. This reduces the need for traditional solar parks, which take up large areas of land, and enables production of renewable energy while lowering operating costs, contributing to the goal of carbon-neutral buildings.

In recent years, there has been increased political attention on energy renovations and carbon emissions within the construction sector in both the EU and the US. This is a development that SolarLab expects will contribute to further demand and growth in the future.

To meet current demand, SolarLab needs to increase production capacity. A small part of SolarLab’s production facilities is currently located in Croatia. However, with the new loan, SolarLab will relocate its entire production process to Denmark.

“Relocating our entire production process to Denmark will allow us to achieve greater control over our value chain and to handle larger projects with greater flexibility in terms of both the size and shapes of the solar facades we produce. We will also be able to reduce the carbon footprint of both the production and transport phases as our production relies primarily on renewable energy from solar and wind in Denmark,” says Melchior.

SolarLab is headquartered in Aarhus and has been behind projects such as the Copenhagen International School in Nordhavn, Bornholm Hospital in Rønne, Red River College in Canada and Powerhouse Telemark in Norway.

– Advertisement –