DEG joins funding round for SolarWorX
Canadian Solar is to invest in SolarWorX - a Berlin based off-grid solar group - as part of the start-up's series A investment round. Canadian Solar, as the lead investor, is joined by co-investors EIT InnoEnergy and German development finance institution DEG.
DEG will use funds from the develoPPP.de program of the German Federal Ministry for Economic Cooperation and Development. The seven-digit funding will help SolarWorX expand its product portfolio and sales activities in its overall push to electrify some of the 1.2 billion people that are still living without a stable grid connection.
SolarWorX offers a modular off-grid solar solution called Solego to harness and distribute energy from solar panels. The modular systems with 80Wh or 160Wh battery capacity can be stacked on top of each other and provide flexibility to power individual households, small businesses and entire communities.
