The SpeedUp Grouo fund invested in Solytic, a company dealing in PV diagnostics

SpeedUp Group, with the help of the SpeedUp Energy Innovation powered by PGE Ventures fund, which belongs to the group, made an investment in the German startup Solytic, developing the monitoring technology and diagnostics of small and medium-sized photovoltaic installations, the fund said. In total, Solytic obtained nearly EUR 2 million of financing from the fund and the German energy company EWE AG.

“The funds will be allocated to further product development and the development of technology for the care of photovoltaic installations using AI. The solution not only helps to better care for the safety of the installation, but also facilitates the management of its repairs, thus increasing the return on investment ”- reads the release.

“Our solution gains a huge advantage due to the wide benefits offered to both manufacturers and their customers. Currently, the most popular monitoring tools are systems offered by manufacturers of PV panels or complementary to inverter panels. These are systems with limited functionality that mainly provide basic parameters for the efficiency of the installation. Hardware producers do not have competences and strong expertise in software development. Therefore, the use of the Solytic system, instead of their basic system, allows the company to be released from the need to build complex software only for its own needs, and at the same time to provide end users with a better quality product. It is worth mentioning that during the development of a system for monitoring and analyzing PV panels, we incur costs not only of building the tool, but also significantly exceeding the cost of maintenance, ”said co-founder and CEO Solytic Johannes Burgard, quoted in the release.

"Solytic operates in the rapidly growing market of distributed photovoltaics. Over the last few years, this market has brought more and more profits for producers and installers of PV panels. As a result, many software companies have emerged on the market, such as Aurora Solar, the value of which is estimated at up to USD 2 billion, and which helps to automate the process of designing PV installations "- added SpeedUp Energy Innovation managing partner Bartłomiej Gola.


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