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Eindhoven-based Taylor, a cutting-edge electronics manufacturer for solar panels, has recently announced a successful €8 million funding round. The secured funds are earmarked for product development and the expansion of Taylor’s team on both domestic and international fronts.
Michiel Roelofs, CEO of Taylor, stated in a company release, “We have also come a long way with that. We now have the first contracts in Belgium and France and will soon expand to Germany.”
This funding round saw contributions from new investor Pension Fund ABP, alongside existing backers Rubio Impact Ventures and Brabantse Ontwikkelings Maatschappij (BOM).
Jeroen Schreur, responsible for the ABP Dutch Energy Transition Fund (ANET) within APG, mentioned in a translated statement, “ABP aims to accelerate the transition to clean energy in the Netherlands, including investments in companies with smart solutions for energy generation, storage, and consumption efficiency. With this investment in Taylor, ANET is supporting a technology that has proven to make panels more efficient, sustainable, and safer.”
Michiel Roelofs expressed his pride, stating, “We are very proud that we now have one of the largest pension funds in the world behind us. It underlines the team’s performance and the trust customers give us. The foundation has been laid; now we start building.”
Founded in 2017, Taylor asserts itself as a key player in the solar energy sector. A spin-off from Eindhoven University of Technology in the Brainport innovation region, the company has gained prominence with over 45,000 products shipped. Taylor’s growth is attributed to its cell string optimizer technology, optimizing individual cell strings in solar panels and boosting output by up to 20 percent. This innovation provides better performance insights and enhances panel safety.
Taylor serves as an electronics provider to solar module manufacturers and supplies gateways and software to solar system installers. With local pre- and aftersales service teams, Taylor collaborates with installers to offer the next generation in solar technology, enabling roof-owners to generate more power from their roof while providing real-time insights into their solar system.
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By Proptechbuzz
By Ravi Kumar
