Lightyear secures over 10M funding for vehicle solar systems
Lightyear is proud to announce its largest funding round of over 10 million euros since the restart. After a challenging year, these funds ensure the continued manufacturing of our highly efficient on-board solar systems for vehicles, such as solar panels on vehicle rooftops. This will make the internationally recognised and scalable technology broadly available to automotive companies. The technology offers a huge opportunity to change mobility by driving for months without recharging.
Key points
Lightyear secures its largest funding round of over 10 million euros since its restart.
The funding is used to grow Lightyear’s team of experts and technicians to become the leading supplier of on-board solar systems for vehicles.
Lightyear aims to become a leading supplier of solar mobility technologies for international automotive companies.
Venray (NL), 20th of September 2024 – Lightyear is proud to announce its largest funding round of over 10 million euros since its restart. After a challenging year, these funds ensure the continued manufacturing of our highly efficient on-board solar systems for vehicles, such as solar panels on vehicle rooftops. This will make the internationally recognised and scalable technology broadly available to automotive companies. The technology offers a huge opportunity to change mobility by driving for months without recharging.
“Thanks to the enthusiastic support of our investors, we are excited and focused on the future. We will use this opportunity to grow our team of experts and technicians to become the leading supplier of on-board solar systems for vehicles, and continue the Lightyear mission of bringing clean mobility solutions to everyone”, says Bonna Newman, the CEO of Lightyear.
The current funding for the on-board solar systems is strategic and strengthens Lightyear’s commercial positioning towards automotive companies. It is the first of many patented solar mobility technologies that Lightyear will bring to the market. Patented technologies that have already been proven and will become available to other companies now and in the near future.
Clemens Schlettwein, founder of Zero Point Holding which is one of Lightyear`s largest investors, adds: “We decided to reinvest because the new plan is clear and realistic. Lightyear’s new strategy creates a compelling opportunity to maximize the impact of existing and new technologies, offering significant solutions in the quest for sustainable transportation.”
Over the past year, numerous valuable lessons were learned that helped guide the decisions to reshape and bring Lightyear to where it is today: from building a solar electric vehicle to making solar electric vehicle technology broadly available. The new management led by CEO, Bonna Newman, is focused on becoming the global leading supplier of solar charging systems for vehicles.