{"id":85234,"date":"2023-11-30T07:00:39","date_gmt":"2023-11-30T06:00:39","guid":{"rendered":"https:\/\/www.anderapartners.com\/?p=85234"},"modified":"2023-11-29T18:35:46","modified_gmt":"2023-11-29T17:35:46","slug":"mylight150-secures-e100m-to-accelerate-the-expansion-of-its-solar-self-consumption-smart-energy-management-solutions-in-europe","status":"publish","type":"post","link":"https:\/\/www.anderapartners.com\/en\/mylight150-secures-e100m-to-accelerate-the-expansion-of-its-solar-self-consumption-smart-energy-management-solutions-in-europe\/","title":{"rendered":"mylight150 secures \u20ac100m to accelerate the expansion of its solar self-consumption & smart energy management solutions in Europe."},"content":{"rendered":"

The leader in solar self-consumption solutions<\/strong><\/p>\n

Founded in 2014 by co-CEOs Ondine and Virgile Suavet, mylight150 aims to make solar power the primary source of energy and sustainably reduce the energy bills of European homes buildings by increasing the penetration of this innovative technology across the continent.<\/p>\n

Operating in France, Spain, Switzerland, and Romania, the company is the first to offer a complete suite of fully integrated residential solar solutions, bundling proprietary photovoltaic equipment (including solar panels, energy management systems, and EV chargers), sophisticated digital tools, and energy management services to deliver a end-to-end self-consumption ecosystem. This ecosystem synchronizes consumption and production to optimize comfort and reduce the cost of electricity for end-users.<\/p>\n

mylight150 also offers value-add services, such as its subscription-based virtual battery solution, MySmartBattery,<\/em> which allows homeowners to virtually store surplus electricity produced by their solar panels and reuse it for free, allowing customers to reduce their electricity bills by 50% and more.<\/p>\n

mylight150 also designs cutting-edge photovoltaic panels and develops artificial intelligence solutions to optimize electricity consumption, such as GreenPlay, which reduces the energy cost of water heater consumption.<\/p>\n

mylight150 has quintupled its turnover and workforce over the last 3 years. In France, the company has enabled over 30,000 installations and currently has more than 7,500 virtual battery subscribers.<\/p>\n

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A market driven by the electrification of end-user energy consumption.<\/strong><\/p>\n

The electricity consumption of a typical European household is expected to double within 10 years, driven by the electrification of heating (heat pumps) and transportation (electric vehicles). In France alone, the government anticipates the installation of 10 million heat pumps and 15 million EV chargers over the next 15 years.<\/p>\n

This wave of electrification poses two major challenges: the need to scale up electricity production and the imperative to optimize energy consumption and its cost.<\/p>\n

\u00a0 \u00a0 \u00a01. Increasing electricity production<\/strong><\/p>\n

Residential solar self-consumption, where mylight150 is the market leader, is one of the fastest-growing sources of green electricity production: +200% in France over the last two years, +300% in Spain.<\/p>\n

\u00a0 \u00a0 2. Intelligent management of electricity consumption<\/strong><\/p>\n

Solutions that synchronize production and consumption, like those developed by mylight150 since 2014, are proving to be essential. Dynamic demand management allows for the smoothing of consumption peaks which in turn limits the rise in electricity prices, all while supporting and promoting decarbonization of the legacy energy system. Intelligent management of the most energy-intensive devices through smart systems will become the norm in the coming years, driven by the need to control energy costs.<\/p>\n

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A significant capital raise to accelerate the development of self-consumption and address new markets.<\/strong><\/p>\n

After a \u20ac2m seed round in 2016 and an additional \u20ac6.5m funding round in 2020, mylight150 is completing a \u20ac100m growth capital transaction from a consortium of three reference private equity investors, specialized in energy transition and sustainable investment: Eiffel Investment Group through its Eiffel Essentiel fund, Azora Capital (the Spain-based private equity group) through its Azora European Climate Solutions Fund, , and Andera Partners through its Andera Smart Infra I fund. Elevation Capital Partners, the group’s historical shareholder, is also participating in the transaction. Demeter Partners’ Paris Fond Vert fund, a historical shareholder since 2020, will exit the capital structure in this round.<\/p>\n

For mylight150, this transaction will accelerate its growth and the deployment of its energy management solutions in the European residential market, and continuously improving the quality of its tech-based solutions:<\/p>\n