Almost 20 million euros for Greentech Zolar

The Berlin start-up rents out photovoltaic systems, and now the environmentally-oriented search engine Ecosia is investing.

The start-up Zolar has received equity financing of three million euros. The search engine Ecosia, which uses its advertising revenue to plant trees, is behind the investment. In turn, Zolar intends to use the investment to take out a loan of 20 million euros to supply 1300 households in Germany with solar energy. "Out of solidarity with the people of Ukraine and to protect our planet, we must end our dependence on fossil fuels. And this is feasible with alternatives such as wind and solar energy," says Christian Kroll, founder and CEO of Ecosia.

According to Zolar, the solar industry is currently experiencing a boom. Since then, demand among homeowners has tripled. In addition to the war in Ukraine, the switch to e-mobility and high fuel prices are also reasons. "We are seeing a clear trend towards ever larger photovoltaic systems on private homes," says Zolar founder Alex Melzer. 90 percent of the start-up's customers buy an additional battery storage unit, which allows them to store solar power that is not used during the day and use it in the evening.

Melzer and Gregor Loukidis founded Greentech in Berlin in 2016. The start-up now employs more than 330 people across Germany. The start-up offers a digital configurator that customers can use to either buy or rent the right photovoltaic system for their home. The installation is then carried out by local tradespeople.