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Eindhoven-based Taylor gets eight million investment for solar panel optimisation
Eindhoven-based manufacturer of high-tech electronics for solar panels Taylor has secured an investment of eight million euros. In this investment round, pension fund ABP is stepping in as a new investor alongside existing investors, says the company in a press release.
Why you need to know this
We are using more and more solar panels. It is important that the panels work as optimally as possible. Taylor contributes to that.
Originating as a spin-off from Eindhoven University of Technology and based in the Brainport innovation region, Taylor has quickly developed into a leading player in the solar energy field. To date, Taylor has supplied more than 45,000 products. Underlying this growth is the cell string optimiser technology developed by Taylor. This enables optimisation of the individual cell strings in solar panels, resulting in increased output of up to 20%, greater insight into performance and improved panel safety.
Product development and team scale-up
Taylor will use the investment for product development and scaling up the team at home and abroad. Michiel Roelofs, CEO at Taylor, says: “We already have the first contracts in Belgium and France and will soon expand to Germany.”
Jeroen Schreur, responsible within APG for the ABP Netherlands Energy Transition Fund (ANET), explains ABP’s investment: “ABP wants to help accelerate the transition to clean energy in the Netherlands, among other things by investing in companies with smart solutions for generating, storing and economically consuming energy. With this investment in Taylor, ANET is supporting a technology proven to make panels more efficient, sustainable and secure.”
Taylor is one of the former winners of the Gerard & Anton Awards.