Glint Solar Raises $8M to Boost Solar Energy Expansion Across Europe

Glint Solar Raises $8M to Boost Solar Energy Expansion Across Europe
November 7, 2024

Glint Solar, a Norwegian SaaS company, is making a splash in the renewable energy space as solar power continues to gain traction. Leading energy companies including E.ON, Recurrent Energy and Statkraft use the startup's platform, which accelerates the planning and pre-design of solar projects and allows installations to operate faster.

Glint Solar intends to use its $8 million Series A capital to expand across Europe, beyond its current core markets in the UK, France, Germany and the Nordic region. Developers can evaluate possible sites faster thanks to the platform's capabilities, which include yield projections, country-specific GIS data and flexible layouts. The program also provides cloud-based collaboration features that facilitate seamless communication between stakeholders by giving project teams instant access to critical data and the ability to create 3D project plans.

CEO and co-founder Harald Olderheim told TechCrunch that since its first initial investment of $3 million in 2022, Glint Solar has significantly increased the size of its customer base. With land-based solar installations accounting for the majority of market demand, the company is focusing its efforts on these. Glint Solar has refined its approach to large-scale installations, which represent 60% of the market and are a powerful accelerator of impact in the renewable energy space, although the software can enable floating solar.

Product development will also be fueled by the Series A funds, including features that make it easier to install batteries for energy storage, an area that is expected to maximize investments in renewable energy. This update helps developers create more comprehensive energy solutions by taking into account variables such as network capacity and environmental constraints.

Olderheim noted that complicated approval procedures continue to cause delays in project schedules, even though the costs of solar installations have declined significantly over the past decade. The goal of Glint Solar Accessible Design is to streamline project management so teams can work more productively on solar farm organization, assessments, and design. The technology can triple project pipelines and increase the speed of site assessments, according to customer reports.

The Series A funding was led by Smedvig Ventures, with support from Momentum, Antler Nordic, Antler Elevate and Futurum Ventures. Jonathan Lerner, partner at Smedvig Ventures, highlighted the benefits of Glint Solar's overall strategy, noting that it could save significant funds on crucial green energy initiatives.


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