Energy company Feld successfully secures 10 million euros in funding
In a significant development for the agri-photovoltaics (Agri-PV) sector, Munich-based startup Feld Energy has secured over €10 million in seed funding. This funding round, led by HV Capital, has also seen the participation of Future Energy Ventures, AENU, and Angel Invest.
The Agri-PV sector is at a turning point, according to the investors, who view Feld Energy as being perfectly positioned to unlock the immense potential of this innovative field. David Kuczek, General Partner at HV Capital, expressed confidence in Feld Energy's ability to redefine agriculture's role in the energy transition. Jan Palasinski, Partner at Future Energy Ventures, sees a strong trend in Agri-PV due to its win-win solutions for farmers and its contribution to the green energy transition.
Feld Energy's technology allows farmers to use land for both crop cultivation and power generation. This dual-use approach, aimed at becoming the norm, benefits farmers and the planet. The model offers farmers an additional income of over €100,000 through a 20-year lease.
Agri-PV combines energy production with food production, reducing water consumption and providing farmers with insurance against crop failures. It also contributes to decarbonization and strengthens the resilience of the agricultural sector. The technical potential of Agri-PV in Germany, as per Fraunhofer ISE, is 2,900 Gigawatt.
Adrian Renner, co-founder and CEO of Feld Energy, stated that the funding will be used to strengthen the team and scale the solution, enabling farmers worldwide to benefit from this innovative approach. Unfortunately, no new information was provided about Adrian Renner or his previous ventures.
Both HV Capital and Future Energy Ventures view Feld Energy's work as a significant step forward in the green energy transition. They believe that the company's success will not only benefit farmers but also contribute to a more sustainable future for all.
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