feld.energy secures 1.7 million euros for the expansion of agrivoltaics

feld.energy has successfully closed a financing round and is focusing on agrivoltaic technologies to provide farmers with additional income opportunities and make agriculture more resilient.

Munich, November 13, 2024 - Agri-photovoltaic startup feld.energy has successfully raised €1.7 million in a pre-seed financing round. The investment is led by HV Capital and supported by Angel Invest, CoInvest (Marc Diekmann), Karljo Seilern, Cord Amelung, Alex Mahr, Christian Hardenberg, Niklas Rickmann (MVST Ventures), Jan Rabe and Colin Hanna. The funds are intended to drive forward the expansion of agri-photovoltaic projects in order to use agricultural land for food and electricity production at the same time.

Agri-photovoltaics: potential and market opportunities

feld.energy offers farmers a solution for using their fields for two purposes: On the one hand for traditional food production, and on the other for generating solar energy. Agri-photovoltaic technology enables farmers to generate up to an additional 4,000 euros per hectare without compromising the primary use of their land. With this solution, the company not only wants to strengthen agriculture, but also make a contribution to the German energy transition.

The concept of agrivoltaics is becoming increasingly important as it enables the efficient use of resources. As well as providing an additional source of income, the installation of solar systems can also help to reduce water consumption in agriculture. According to the Fraunhofer Institute for Solar Energy Systems (ISE), the agri-PV potential in Germany alone is 2,900 GW, which underlines the importance of the technology for the long-term energy transition.

Support from HV Capital and well-known investors

The pre-seed round was led by HV Capital, which has supported previous start-ups by serial entrepreneur and feld.energy founder Dr. Adrian Renner. Dr. Renner previously launched Global Savings Group, which has established itself as a leading player in the consumer internet space.

David Kuczek, General Partner at HV Capital, sees great opportunities in the collaboration: "We are convinced that Adrian Renner can transform the Agri-PV sector. With his experience in building successful companies, he will be instrumental in driving the development of this emerging sector." In addition to HV Capital, prominent business angels such as Marc Diekmann and Jan Rabe as well as other investors have participated in the financing.

Growth, team building and the future of Agri-PV

feld.energy plans to use the funds to build a strong team and expand its operational capacities. The aim is to establish agri-photovoltaic technology on a broad scale and promote the use of PV systems on agricultural land. Dr. Adrian Renner explained that the financing round not only represents a financial milestone, but also marks an important step towards a future in which agriculture and clean energy go hand in hand.

"Our mission is to promote a more resilient and sustainable agriculture. With our technology, we can help farmers secure stable incomes and generate climate-friendly electricity. At the same time, we are reducing dependence on fossil fuels," says Dr. Renner. Agri-PV technology therefore offers long-term benefits for both the environment and the financial stability of farmers.

Importance of agrivoltaics for the energy transition

Germany is pursuing the ambitious goal of covering around 60 percent of its final energy consumption from renewable sources by 2050. Agrivoltaics is a key factor in supporting this transition while safeguarding agricultural production. Agri-PV systems from feld.energy contribute to this vision by generating clean energy, strengthening the resilience of agriculture and providing farmers with additional income opportunities.