Photon Energy N.V., an Amsterdam-based renewable energy company delivering solar energy and clean water solutions around the world, 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%.
Lerta raised a total of PLN 12.75 million in new equity. Photon Energy Group’s new investment goes hand in hand with the deepening cooperation with Lerta in the areas of electricity trading for the Company’s utility-scale PV power plant portfolio, an integrated approach to the exploding behind-the-meter market segment combining on-site energy generation, electricity trading and VPP services all the way to jointly exploring new business models in the dynamically developing energy market.
Since Photon Energy Group’s first investment in December 2020 Lerta has obtained electricity trading licenses in Poland, Hungary, Romania and the Czech Republic and managed to expand its presence on the Polish capacity market to over 50 MW of demand side response (DSR) assets under management.
Since 9 December Lerta has been providing electricity trading and balancing services to Photon Energy Group’s first European merchant PV power plant with an installed capacity of 1.35 MWp in Tolna, Hungary.
The new capital will be allocated to the development of Lerta’s Virtual Power Plant in Poland and to the growth of operations in its new markets within the CEE region, where the company will work closely with Photon Energy Group.
‘We are pleased to tighten our relationship with Photon Energy Group through the latest Series A equity financing. This transaction comes at the time of skyrocketing energy prices and growing risk of imbalancement on European markets,’ said Borys Tomala, Founder and CEO of Lerta. ‘To preserve the grid reliability and their economic profitability, consumers need to become active participants of the market – produce their own green energy and provide the grid with real-time flexible response (e.g. reduction of demand). Together with Photon Energy Group we will help them to earn and save more by joining our Virtual Power Plant.’