Understanding the investment opportunity
Solum has developed a patented photovoltaic technology through which it manufactures solar tiles. Thanks to this technology, Solum ensures that the photovoltaic cells are fully walkable, resistant, and anti-slip, applying it to multiple products, from solar charging stations to self-consumption installations fully adapted to the urban environment, which it has commercialized in more than 10 different countries.
Solum is a Spanish startup that takes photovoltaic technology to the next level. The photovoltaic industry is a large expanding market, especially in cities. Solum has developed a new generation of photovoltaic technology, solving the barriers faced by photovoltaics in cities and is set to flood the hearts of cities worldwide with solar tiles.
Thanks to Solum's patented technology, we ensure that the photovoltaic cells are fully walkable, resistant, and anti-slip, maintaining the energy efficiency of standard solar panels (data).
Solum applies this solar tile technology to multiple products: from solar and smart charging stations to self-consumption installations fully adapted to the urban environment.
Solum already commercializes its products in 10 different countries and 3 different continents, thanks to its network of partners who handle the distribution, installation, and maintenance of its products.
It prioritizes the effectiveness of resources (financial and human), manufacturing its products with a very flexible production chain, keeping CAPEX to a minimum. This is achieved through precise management of its manufacturing and order preparation centers, as well as its alliance with external manufacturers, achieving margins of 45% on its products.
Finally, Solum stands out for its R&D department, which continues to improve Solum's products and expand their functionalities, both hardware and software.
All these points have led Solum to an ideal position to achieve profitability and from there, scale the company to major markets (USA) and seek investors who want to join the company on this journey.
5 investors (including Venture Capitals, Corporates, and Business Angels) have already backed Solum with previous investments. Also Enisa, with a participatory loan. We want more investors to join our great project.
NOTICE: The investment round in Solum is structured as follows:
- Direct investment in the Startup for its current partners and for the signatories of previous convertible notes that capitalize in this round.
- The rest of the partners through the subscription of shares in the Investment Company, provided that it reaches a minimum of 5% participation in the Startup. If it does not reach this, the investment will be direct in the Startup, and the investors will be channeled through a Syndicate.
There is a circumstance we must highlight: if, when capital gains are generated, the Investment Company's participation has been reduced below 5% of Solum, these capital gains will be subject to double taxation, due to the non-exemption of corporate tax. We will implement mechanisms to try to avoid this, but you should be aware of this circumstance.
Solum Team
Carlos Rodríguez
CEO
Luis Muñoz
CSO
Antonio Cabrera
CTO
Raquel Recacha
COO
Beringia
INVESTOR
Fondo Bolsa Social
INVESTOR
Quantum Capital Energy
INVESTOR
Urriellu Ventures
INVESTOR
Wayra
ACCELERATOR
Reasons to invest View more data
Company with a significant innovation component:
- Our core technology: We transform traditional tiles, the most common type of pavement in cities, into a source of energy. We make a tile generate the same energy as a solar panel with a patented technology.
- Moreover, we have developed multiple technologies: Safe Parking and Charging Stations, Smart, for electric scooters and bikes, in various versions and with IoT Technology to provide intelligence to the stations.
The urban self-consumption market is a huge and growing market:
The global solar photovoltaic (PV) market was estimated at USD 150 Billion in 2022 (https://www.precedenceresearch.com/solar-photovoltaic-market#:~:text=The%20global%20solar%20photovoltaic%20(PV,forecast%20period%202023%20to%202032.))
That same year, more photovoltaic installations were carried out within cities than outside them. Between 2023 and 2026, an additional 150 GW is expected to be installed in Europe, representing a market of over €80 Billion for Solum (just in Europe). It is an accessible market for Solum (which already operates at the European level, in 5 countries and has projects in 8 of them) before tackling the American market. (https://www.solarpowereurope.org/insights/outlooks/eu-market-outlook-for-solar-power-2023-2027/detail)
A company diversified into other markets, such as micromobility:
The shared mobility market is a young market (the main players have been operating for less than five years) but relatively large (globally it will reach USD 360 Billion in 2030, according to McKinsey.
Demonstrated traction in 2022 and 2023 with more than €1,000,000 in accumulated sales:
We have projects in more than 9 countries, both in micromobility and self-consumption: Spain, Portugal, Italy, France, United Kingdom, Netherlands, Greece, Turkey, Saudi Arabia,
Among our clients are major companies such as: Iberdrola, CRH, Sanitas, CBRE, Aedas Home, Westfield, or Real Madrid,
A manufacturing and logistics chain capable of producing 1.6 GW per year and 350 charging stations, with a direct margin of 25% and 45% respectively, outsourced to 95% (annual CAPEX investment <50,000 Euros).
Solum has built a network of suppliers and manufacturers that allows it to manufacture all its products with minimal CAPEX investment and achieving very good margins (45% in Stations, which we expect to increase to 55% in 2024, and 25% margin in Tiles, which we expect to increase to 30% in 2024)
Solum has an internal manufacturing center (for electronics) and two external ones (solar pavement and stations), as well as an order preparation center, also outsourced.
In addition, Solum has built a network of commercial Distributors who also handle the installation and maintenance of Solum's products, simplifying Solum's value chain. We have Distributors in Spain (10), Portugal (2), Italy (5), and France (4).
Strategy towards profitability: Positive EBITDA in 2024:
Solum aims to be a profitable company in 2024 and from that balanced position, scale the company in a growing market where the competition has an inferior product. After two years in the market, Solum knows its entire value chain and knows how to increase the company's efficiency to achieve positive EBITDA.
The outsourcing process has been key to this, but also the shift in marketing strategy from outbound to inbound, the market launch of the second version of the solar tile, more competitive in price, the opening of multiple markets in Europe, etc. In short, after 5 years of existence and 2 years of commercial traction, Solum is ready to achieve profitability, thanks to the knowledge acquired and having found the right strategies in all parts of its value chain.
Investment already backed by private capital €1,250,000:
Solum has a pool of investors who have already supported the company in a previous investment round and continue to do so today. Among these investors are:
- Fondo Bolsa Social
- Quantum Capital Energy
- Beringia
- Wayra
- Urriellu Ventures
Solum maintains an excellent relationship with all of them and wants to maintain the same fruitful relationship with new investors who join the company.
Founding team with over 30 years of experience in the energy sector:
The Solum team consists of 10 people, including its three founders, occupying the positions of CEO, CTO, and CSO, covering the three main areas of Solum: Management, Technological Development, and Business Development.
Solum has a team composed of electronic, industrial, and energy engineers, commercial staff, analysts, and logistics personnel, who have already demonstrated their ability to perform Solum's internal tasks and manage those that we have outsourced.
Who is the reference investor?
Fondo Bolsa Social
INVESTOR
About Fondo Bolsa Social
Fonda Bolsa Social ha invertido ya en Solum 500,000 € (Incluyendo los 200,000 de la actual Ronda). FBS Invierte en empresas de triple impacto: económico, social y medioambiental, que contribuyen a los Objetivos de Desarrollo Sostenible (ODS). Cuentan con 22 millones de euros para apoyar el crecimiento de empresas jóvenes con potencial que quieran generar un impacto social y medioambiental positivo y medible en el mundo. El Fondo Bolsa Social Impacto FESE se beneficia de la reconocida experiencia de su partner Afi en el análisis y valoración de empresas y proyectos de inversión en múltiples sectores, así como en la ejecución de operaciones corporativas. Además de su capacidad analítica multisectorial, Afi aporta al Fondo su red de contactos para originar operaciones y el apoyo a las empresas participadas, participando activamente en los órganos de gestión del Fondo.- Investing in startups: Since 2020
- Invested Euros: €22 M
- Investments: 18
- EXITS: N/A
The investment thesis is based on:
Large and growing market: A company diversified in two growing markets, mobility and the BIPV (Building Integrated Photovoltaics) solar market
Favorable regulatory environment: The Solum product responds to public issues by offering a solution for mobility management and ensuring its sustainability. Similarly, they offer a source of sustainable energy. The company is clearly oriented towards the SDGs.
Distinctive product that can lead the market: The market for electric vehicle parking and charging solutions is still very fragmented, offering an opportunity to establish as a leader in this niche.
Solution validated by sector players.
Commitment from investors with complementary roles: Capital Energy: A leading company in the solar and wind energy sector that has validated the solution from a technical standpoint. Wayra, an important piece to push at the municipal level the inclusion of solutions like Solum in sustainable mobility tenders, as they have significant commercial presence with institutional contacts locally. Beringia: With Toni Vera as a reference investor, who has extensive experience in logistics, manufacturing, and marketing of products very similar to Solum's
Good team: The team is 100% committed to the company, has a lot of experience in the renewable energy sector, and knows the market very well. They had a clear opportunity cost by leaving their jobs in good positions and still have bet on the project, working two years without pay.
It has also invested in...
Live
Chat
You need to be registered to view the content
This content is confidential and you must be registered with Startupxplore in order to access it.
Register meOpportunity analysis Last update Nov 11, 2024 11:00:30 AM
You need to be registered to view the content
This content is confidential and you must be registered with Startupxplore in order to access it.
Register meInvestor questions
The regulations governing Startupxplore's activity require that no investor is in possession of more information than the rest. Therefore, this section will provide answers to any questions asked by an investor about the opportunity.
If you have any doubts or questions about the startup, the process or any other aspect please write to us at coinversion@startupxplore.com
You need to be registered to view the content
This content is confidential and you must be registered with Startupxplore in order to access it.
Register meDocumentation
You need to be registered to view the content
This content is confidential and you must be registered with Startupxplore in order to access it.
Register me