SOLAR MATERIALS Secures up to EUR 20M Growth Financing for European Expansion in Series B
SOLAR MATERIALS Secures up to EUR 20M Growth Financing for European Expansion in Series B
EIC Fund and NOVA by Saint-Gobain are joining as new investors, alongside the existing investors IBG Funds and First Imagine!
SOLAR MATERIALS GmbH secures up to 20M in a 1st Closing of a Series B with a first closing tranche of 15M. EIC Fund of the European Commission and NOVA by Saint-Gobain are joining as new investors, alongside the existing Investors bmp ventures with their IBG Funds and First Imagine! The capital will be used to expand recycling capacity in Germany and to accelerate expansion into additional European markets. NOVA by Saint Gobain joins with strategic capital for the expansion of SOLAR MATERIALS.
End-of-Life Solar Panels: From Energy to Raw Material
After decades of generating clean energy, solar panels reach their end of life carrying something the industry urgently needs: a domestic source of glass, aluminum, and copper, as well as the critical raw materials like silver and silicon. SOLAR MATERIALS extracts these valuable secondary raw materials.
SOLAR MATERIALS patented process recovers all materials of a module’s mass by weight, separating materials cleanly and in industrially usable quality. The process is designed for crystalline silicon solar panels, which account for more than 95% of the global module stock and the vast majority of end-of-life recycling volume. In parallel, SOLAR MATERIALS is already researching solutions for next-generation module technologies.
“Solar panels are not just a source of clean energy — they are an underestimated raw material source that grows with every panel installed. Tens of thousands of tons are already coming in from Germany alone. By 2030, we’re talking about millions,” says Dr. Jan-Philipp Mai, Co-Founder and CEO of SOLAR MATERIALS.
David Stuck, Co-CEO of SOLAR MATERIALS, underscores the significance of the round: “The renewed commitment of our existing investors and the confidence shown by our new partners validate our direction. This financing round is a key milestone on the path to realizing our growth strategy.”
Jan Bargel, Co-Founder and CTO of the company, adds: “Our recycling technology is industrially scalable and delivers outstanding raw material quality. This is urban mining that actually works. With this investment, we will continue to scale our technology — in Germany and across Europe.”
Recycled Glass at Float Glass Quality
With Saint-Gobain, SOLAR MATERIALS gains a major strategic investor. NOVA by Saint-Gobain, the specialized branch for partnerships and venture capital investments at the company, invests in promising startups that deliver concrete solutions aligned with the Group strategy in light and sustainable construction. The investment is a validation of SOLAR MATERIALS’ business model and the quality of its Magdeburg-produced recycled glass, which finds its way back into Saint-Gobain’s industrial production.
“We have full confidence in the team and in the technology SOLAR MATERIALS has developed to successfully scale solar panel recycling across Europe enabling the reintegration of recycled glass into Saint-Gobain float glass operations,” said Basma Kharrat, Vice President of External Venturing, NOVA by Saint-Gobain.
Made in Europe — From Research to Industrial Practice
Following a successful EIC Accelerator Grant, the EIC Fund is now entering as an equity investor. The investment arm of the European Innovation Council (EIC) is reserved for companies that have been recognized through the EIC program as innovative and capable of scaling across Europe. For SOLAR MATERIALS, this marks the logical continuation of a European growth story.
“SOLAR MATERIALS exemplifies what European innovation can achieve: turning a patented process into a scalable industrial business,” says Svetoslava Georgieva, Chair of the EIC FundBoard.
Existing Investors Continue the Success Story
IBG Funds managed by bmp Ventures AG and First Imagine! have supported SOLAR MATERIALS since its earliest stages and are investing again.
“With its facility in Magdeburg, SOLAR MATERIALS has proven its outstanding recycling technology. The European market is growing fast; now it’s time to scale and to expand. For us, this follow-on investment is the natural step in supporting a company that has impressed us right from the start”, says Oliver Borrmann, Managing Partner of bmp Ventures.
“Solar Materials has demonstrated traction across every critical dimension: a dedicated, highly motivated team, compelling commercial development, and a market that is just beginning to gain momentum. That is exactly what we look for as investors,” says Boris Dorin, Partner at First Imagine!
Independent Expertise Bridging the Gap to Solar Park Operators
Stefan Müller, Co-Founder and COO of Enerparc AG, joins the Advisory Board. Müller has helped shape the solar industry for more than three decades and understands the end-of-life module market from the perspective of a large-scale plant operator.
“What happens to solar panels at the end of their useful life is an open question the entire industry must answer,” says Stefan Müller. “SOLAR MATERIALS has an answer that makes economic sense. It is rare to accompany a company that addresses a genuine industrial need while simultaneously contributing to Europe’s raw material sovereignty. I am convinced: this is just the beginning.”
About SOLAR MATERIALS
SOLAR MATERIALS GmbH, headquartered in Magdeburg, Germany, specializes in the high-value recycling of end-of-life solar modules. The company’s patented process enables the recovery of critical raw materials such as silver and silicon at high purity levels — in contrast to conventional shredding processes, in which these materials are lost.
About bmp Ventures AG / IBG Beteiligungsgesellschaft Sachsen-Anhalt mbH
bmp Ventures AG is one of Germany’s most experienced venture capital investors. Founded in Berlin in 1997, the firm has financed more than 250 startups and supported over 130 trade sales and IPOs. bmp manages the IBG venture capital funds of the State of Saxony-Anhalt, with a total volume of more than EUR 160 million.
About First Imagine!
First Imagine! is a European venture capital investor focused on the energy transition. Founded in 2016, the firm invests in technology-driven startups across the energy transition value chain. First Imagine! is a member of the British Private Equity and Venture Capital Association (BVCA).
About NOVA by Saint-Gobain
NOVA by Saint-Gobain is the venture capital arm of Saint-Gobain, the worldwide leader in light and sustainable construction. Saint-Gobain designs, manufactures and distributes materials and services adapted to the residential, non-residential and infrastructure markets, and providing sustainability, performance and well-being for its customers
With a presence in Asia, Europe, and the Americas, NOVA by Saint-Gobain scouts and supports entrepreneurs advancing sustainability aligned with the Group’s priorities. Through strategic partnerships with Saint-Gobain business units and minority investments, NOVA by Saint-Gobain connects the global startup community with the resources, expertise, and reach of Saint-Gobain to tackle today’s needs and tomorrow’s challenges.
About the EIC Fund
The European Innovation Council Fund from the European Commission is a deep tech investor across all technologies. The EIC Fund aims to fill a critical financing gap, to support companies in the development and commercialization of disruptive technologies. With its large network of capital providers and strategic partners, it shares risk and crowds in market players.
A robot at SOLAR MATERIALS disassembling retired solar modules
