[Funding alert] Frankfurt-based ENVIRIA Raises €185 Million in Series B Funding

By making this investment, ENVIRIA and BlackRock are taking advantage of one of the energy transition's biggest development opportunities: providing decentralized electricity at scale through rooftop solar and related services.

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Roughly 70% of the electricity used in Germany is reportedly consumed by businesses, but only about 10% of appropriate company roofs have solar panels installed.2. This means that several hundred GW of potential renewable energy capacity remain unrealized.

Melchior Schulze Brock, Founder and CEO of ENVIRIA, said: “We are delighted to have found such a strong partner in BlackRock, who so enthusiastically supports our vision of empowering companies to harness the potential of solar. BlackRock brings exactly the resources we need to continue our growth both financially and in terms of knowledge. Understanding the complex, capital intense nature of our business, BlackRock is able to support us in realizing the full potential of the C&I sector across Germany. BlackRock’s experience in working with companies in our sector globally, especially in Asia and America, has impressively shown what a successful collaboration can look like.”

ENVIRIA is posing a threat to conventional "grey" power plants and progressively reducing reliance on fossil fuels by supplying the grid with electricity generated by its potent solar systems.

With the help of its Series A investors, BNP Paribas Développement, Redalpine, Alter Equity, and Galileo Green Energy, the company has amassed a portfolio of 500 C&I solar projects throughout Germany. With 2,000 C&I projects totaling over 2.3GW in its development pipeline and plans to accomplish 1.7GW by 2029, it will facilitate a smooth energy transition.

The Climate Infrastructure team at BlackRock was a pioneer in the field, having made the first investment in solar PV in 2013 and invested in over 15 companies since the late 1990s. They currently oversee $11 billion in client assets.

Keith Mangan, Head of EMEA for Climate Infrastructure at BlackRock, commented: “Our investment in ENVIRIA adds to our strong track record of staying ahead of the curve in investing into infrastructure assets that are aligned with the energy transition, an investment theme that continues to show its growth and scalability. ENVIRIA’s unique value proposition as a full-chain PV provider is a stellar example of the deployment of scalable innovation in this sector, making this an attractive exposure for our clients.”

Dirk Schmitz, Country Head of BlackRock in Germany, Austria, and Eastern Europe, added: “Germany’s shift to a low-carbon economy requires significant investment in renewable power infrastructure. We are pleased to provide our clients access to this investment in a promising macro-economic environment for climate infrastructure in Germany. With a strong German investor presence on our Climate infrastructure platform, I am excited that we will be put our clients’ money to work through ENVIRIA locally.”

About ENVIRIA

ENVIRIA's creative solar-centric projects are crafted and constructed using EPC experience and financial engineering principles tailored to the specific requirements of the business-to-business (B2B) sector.

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They firmly feel that for the clean energy transition to succeed, disruption of centralized energy production is contingent upon extending beyond private and civic engagement. Increasing B2B involvement in the clean energy transition is their goal. They set out on their voyage with solar.

Their efforts are therefore focused on generating value through integration, making use of an ecosystem for renewable energy that encourages business-to-business (B2B) partners to take personal responsibility for their environmental initiatives.