Photon Energy Group Leads Series A Equity Round in Lerta
- The equity financing round is part of a deepening strategic partnership between the companies and has raised PLN 12.75 million for Lerta. Photon Energy Group invests PLN 8.75 million and increases its equity stake to 24%
- The newly raised capital will help Lerta grow its Virtual Power Plant (VPP) business and roll out its energy trading activities after obtaining electricity trading licenses in Poland, Hungary, Romania and the Czech Republic. Photon Energy Group’s recently commissioned merchant PV plant in Hungary is selling electricity to the market through Lerta.
- Both companies are advancing the integration of Photon Energy’s behind-the-meter electricity offering with Lerta’s electricity trading and VPP services to corporate customers throughout the CEE region.
Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) (‘Photon Energy Group’, the ‘Group’ or the ‘Company’), an Amsterdam-based renewable energy company delivering solar energy and clean water solutions around the world, today announced that the Company has been the lead investor along two other investors in Lerta S.A.’s Series A equity financing round, investing PLN 8.75 million and increasing its ownership stake from 12% to 24%.
About Photon Energy Group – photonenergy.com
Photon Energy Group delivers solar energy and clean water solutions around the world. Its solar power services are provided by Photon Energy; since its foundation in 2008, Photon Energy has built and commissioned solar power plants with a combined capacity of over 110 MWp and has power plants with a combined capacity of 90.6 MWp in its proprietary portfolio. It is currently developing projects with a combined capacity of over 750 MWp in Australia, Hungary, Poland and Romania and provides operations and maintenance services for over 330 MWp worldwide. The group’s second major business line, Photon Water, provides clean water solutions including treatment and remediation services, as well as the development and management of wells and other water resources. Photon Energy N.V., the holding company for Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt Stock Exchanges. The company is headquartered in Amsterdam, with offices across Europe and in Australia.
About Lerta – lerta.energy
Lerta develops modern energy services helping consumers and producers of energy to effectively manage their production and consumption. Based on the automation of supply and demand control, they can additionally monetize the possibility of adapting the operation of assets to market requirements in real time. Lerta’s activities help minimizing the carbon footprint, to increase green energy production and to protect the planet. In 2016 Lerta was named one of the 30 best young technology companies in the world creating solutions for the energy sector by experts and investors from Silicon Valley. In 2017 the company completed the prestigious MIT Enterprise Forum Poland acceleration program targeted at the most innovative Polish technology companies. In 2018 PGE Ventures (the venture arm of Polska Grupa Energetyczna) and the ValueTech Seed Fund invested in the company. Since 2019 Lerta is the only independent DSR aggregator operating on the Polish market.