Ecoligo, a Berlin-based company at the forefront of the clean energy transition, has announced an oversubscribed funding round of €11M. The round was led by existing investors and welcomed two new investors: The Energy Entrepreneurs Growth Fund, supporting companies in the energy access ecosystem in Sub-Saharan Africa, and Gaia Energy Impact Fund II, a French VC fund focusing on impact companies in markets along the energy value chain.
Martin Baart, founder and CEO of Ecoligo, expressed pride in attracting two additional reputable investment funds to their growth story, emphasizing the achievement in the current challenging market environment for scale-ups. The company plans to use the funds to strengthen its market presence in the solar project sector and introduce new financial products in the German market, with plans to extend its financial product range to selected European countries.
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Preventing Over 1.7 Million Tons of CO2 Emissions
Having implemented 130 solar systems globally, valued at €40M, Ecoligo’s projects operating in emerging countries are anticipated to prevent over 1.7 million tons of CO2 emissions throughout their expected lifespan. Jan Henrik Kuhlmann, Head of Direct Investments at Triple Jump, highlighted the alignment of Ecoligo’s mission with their own, to catalyze the transition towards renewable energy.
A Leader in Renewable Energy Market
Founded in 2016 by Martin Baart and Markus Schwaninger, Ecoligo is an impact investment provider specializing in solar-as-a-service projects in emerging markets. The company operates in 11 countries, including Kenya, Vietnam, and Chile, collaborating with committed and environmentally conscious private investors to implement solar installations on company buildings, contributing to the global energy transition.
With offices across the globe, including Ghana, Kenya, Costa Rica, Chile, Vietnam, and the Philippines, Ecoligo is poised to expand its reach, accelerate project development, and forge new partnerships to drive even greater impact in the renewable energy sector.
