The financing of Series A, amounting to €8.6 million, of the investment program of Brite Hellas, for the production of semi-transparent photovoltaic panels for agricultural applications, which will be produced at its facilities, in VI.PE, Patras, with lead, was successfully closed investor New Energy Partners. The European Innovation Council (EIC) and Brace 4 Impact, and Deep Capital Group also participated.
Brite Hellas, based in Thessaloniki, is a global pioneer in the development and deposition of nanomaterials on glass. Brite's technology is covered by international patents and has extremely interesting industrial applications, such as agro-photovoltaic panels and 'smart' glass to save energy in buildings.
Agrophotovoltaic systems allow the dual use of land both for crops and for energy production. It is a rapidly growing market, all over the world. Brite's product, thanks to its pioneering technology that allows faster growth of the subject crops, has a particular application in greenhouses, but also in open-type crops.
Nikos Kanopoulos founder and CEO of Brite Hellas said:
'We are particularly optimistic about the development of the production line for agro-photovoltaic panels, which will be financed by the investment program that has been closed. The production line, which combines the use of nanomaterials with conventional solar cells, is the first and to date unique in the world, and is the beginning of Brite Hellas' development in a market that is now growing and is expected to reach €2.5 billion a year 2028.
New Energy Partners AKES (NEP), is a Greek fund that focuses on energy transition investments such as renewable energy sources, energy saving and applied new technologies in the field of energy transition. The main investor of NEC is the Hellenic Development Investment Bank (EATE) through the Debt Fund program. Thodoros Kiakidis, one of the founders of New Energy Partners, said: 'We are very pleased to have the opportunity to support Brite in its effort to immediately play a leading role in the new, promising, agro-photovoltaic market, having behind part of our minds and the huge potential of the second under development 'smartglass' energy saving product for buildings.'
The European Innovation Council (EIC) is an 'agnostic' investment fund established by the European Commission to invest in all technologies, in all markets and in all countries associated with the Horizon Europe program. It is the investment part of the mixed financing of the EIC accelerator. The program's investment advisor is the European Investment Bank (EIB).
The EIC Fund aims to close a critical funding gap, supporting companies in the development and commercial exploitation of technologies that could bring about fundamental changes in their sector (disruptive technologies). The aim of the EIC Fund is to attract financing on market terms to the companies it invests in, acting as a bridge and as a co-investor with 'commercial' funds. The fund attaches particular importance to supporting female business founders as well as reducing the 'gap' of innovation between EU member states.
Svetoslava Georgieva, Chairman of the Board of Directors of the EIC Fund, said: “The EIC Fund has become a very strong player in the field of European deep-tech. Its investment product, the combination of equity and grants, unique in the market, has a great impact in the field of European innovative companies. Our investment will help Brite Hellas finance the production of translucent photovoltaics that allow dual use of land, both for the production of food and clean energy.”
Brace 4 Impact invests internationally in start-up companies that develop climate and sustainable technologies for agriculture, the blue economy, the circular economy, and the energy transition, with scalable applications and a positive impact on the Greek economy. Spyros Poulios, CEO of Brace, said “Brite is a Greek company of international scope with world-leading technology in a rapidly growing market. The new funding will help Brite to grow rapidly in the global market, having a production base in Greece.'
The investment group Deep Capital Group manages a diversified investment portfolio, with a special interest in direct investments in start-ups and pioneering companies in the technology sector. Alexandros Hatzopoulos, Chief of Strategy & External Affairs of the Group, stated that the investment in Brite Hellas reflects the group's philosophy of strengthening investments with an international orientation, both in terms of growth prospects and in response to the modern challenges that concern society and business.
