Eternal Sun, a high-tech solar simulation startup announced today that it has closed a Series A €2 million funding round led by Vermec. A Brussels-based family VC firm, Vermec is specialized in expansion stage and growth capital investments. The €2 million in funding will be used to expand the company’s international sales and service operations.
Eternal Sun, a Delft University of Technology spin-off, was founded in 2011. It builds solar simulation systems to test the quality of solar modules and materials in a range of industries in Asia, Europe and the Middle East. From the solar and bio energy to the aerospace and automotive industries. The bio energy industry uses Eternal Sun’s simulation equipment to investigate the growth of algae or other crops, for instance. In the aerospace industry dedicated solar testing units are used to determine the behavior of new technology under space-identical sunlight.
In 2013, the YES!Delft incubator startup won the Global Ideas Award at the Cleantech Open Global Forum in Silicon Valley. Leading research institutions, solar module manufacturers and certification authorities also use the simulation systems of the startup.
“In an era of continuous improvement of solar modules, our solar simulation systems are in high demand with customers that aim to accurately test the performance and reliability of their solar technology. The capital injection will be used to meet this growing demand, says Chokri Mousaoui, Founder and CEO of Eternal Sun.
Michel Verhaeren, CEO of Vermec says that the growing importance attached to quality assurance in a growing solar market is what makes Eternal Sun so interesting. “We are glad to engage with this talented team, and look forward to the upcoming period of development and growth”, he adds.
Photo: Eternal Sun