STOCKHOLM – Europe’s foremost electricity and heat producer, Vattenfall, reaffirms its commitment to sustainable energy solutions with a strategic investment in Berlin-based solar management startup, Solytic. Joining a consortium of investors including energy and telecommunications giant EWE, Vattenfall’s participation in Solytic’s second round of funding underscores its dedication to advancing digital innovation in the renewable energy sector.

Founded in 2017, Solytic leverages artificial intelligence to revolutionize the monitoring and optimization of photovoltaic (PV) plants, driving efficiency and performance gains. Boasting an impressive portfolio of 100,000 PV plants with a combined capacity of 2 gigawatts (GW), Solytic is poised for exponential growth, eyeing expansion to over one million plants within the next three years.

Gunnar Groebler, Senior Vice President at Vattenfall, emphasizes the strategic significance of investing in Solytic, stating, “We see significant growth potential in the solar sector. Economic success hinges on cost-effective construction and data-driven operation of renewable plants. Therefore, investing in a forward-thinking company like Solytic, focused on digital services in this transformative domain, is a prudent move for Vattenfall.”

Johannes Burgard, Managing Director and co-founder of Solytic, echoes this sentiment, outlining ambitious plans for the company’s expansion. “With bolstered funding from our second round of financing, our objective is to scale our operations to manage over one million plants in the next three years and to expand our footprint internationally,” says Burgard.

Proceeds from the funding round will fuel further product development initiatives, expand Solytic’s product range through its own marketplace, and ramp up marketing and sales efforts to drive market penetration.

This strategic collaboration marks Vattenfall’s continued support for Solytic, following its initial investment in the company’s inaugural funding round in 2017. Leveraging AI-powered software, Solytic optimizes solar plant operations by analyzing existing data, enhancing maintenance protocols, reducing repair costs, and automating overall management processes.

Dr. Urban Keussen, Board Member for Technology and Innovation at EWE, underscores the mutual benefits of partnering with Solytic to deliver customer-centric solutions. “As an energy company, we aim to simplify our customers’ lives by offering convenient solutions that reduce complexity and save time and money. Partnering with Solytic aligns with our commitment to providing sustainable benefits for all stakeholders,” notes Dr. Keussen.

With Solytic’s innovative AI-driven approach, the solar sector is primed for accelerated growth, driving cost efficiencies and paving the way for a more sustainable energy future.