Solar cells are typically assembled in large solar parks in the countryside or on the roofs of buildings. But the company SolarLab has developed a solution where the solar cells become part of the facades of buildings, and can thus, in addition to creating green electricity for the building, also replace traditional facade elements such as concrete, stone, wood, steel.
SolarLab has experienced increasing demand for its solar cell facades, and therefore there has been a need to increase production with the help of new machines and equipment. The company has now received financial support for this investment from Nefco, which has awarded SolarLab 12 million DKK (1.6 million EUR) in loan financing. Nefco was founded by the four Nordic countries in 1990 and helps finance the expansion of green technology abroad by Nordic growth companies. SolarLab states this in a press release.
- SolarLab has developed an innovative and fantastic solution where facade elements with built-in solar cells can produce renewable energy locally, where it is to be used. For Nefco, it has been important that SolarLab's technology both meets the need for renewable energy and at the same time directly replaces building elements, reducing the building's environmental impact. SolarLab has experienced a sharp increase in demand in recent years. Nefco's financing will therefore help SolarLab increase production capacity so that they can keep up with the increased demand”, says Søren Berg Rasmussen, Investment Manager at Nefco.
To meet the existing demand, SolarLab needs to increase production capacity. A small part of SolarLab's production facilities are currently located in Croatia. With the new loan, however, SolarLab will move all production to Denmark.
- By moving all of our production back to Denmark, we will gain greater control over our value chain and at the same time be able to handle even larger projects with greater flexibility in terms of both the size and shapes of the solar facades. At the same time, we will be able to reduce the CO2 footprint in both the production and transport phases when the production is brought back to Denmark, where we primarily use renewable energy from the sun and wind in production, says Peter Melchior, CTO, SolarLab.
Opening office in the USA
SolarLab works particularly with larger construction projects such as hotels, schools, hospitals and libraries. This applies to both new construction and renovation.
In recent years, there has been greater political attention to energy renovations and CO2 emissions in construction in both the EU and the USA. This is a development that SolarLab expects will contribute to further demand and growth in the future. SolarLab is experiencing increasing demand in the USA in particular, which is why some of the funds from Nefco will also be used to increase its presence there.
- The loan from Nefco is an important step on our international journey. We are already working with the most talented architects and builders around the world to create innovative solar facades that both benefit our climate and are beautiful to look at. In recent years, we have seen that demand has only gone one way, and this applies especially to the American market, where, among other things, favorable tax conditions have increased investments in renewable energy and energy renovations. Therefore, we will use part of the loan to increase our presence in the USA by opening a sales office in 2025, says Peter Melchior.
SolarLab is headquartered in Aarhus and has been behind projects such as Copenhagen International School in Nordhavn and Bornholm Hospital in Rønne as well as Red River College in Canada and Powerhouse Telemark in Norway.
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