On 3 December Eternal Sun B.V. announced that it has closed a €2 Million ($2.5 Million) Series A financing from Belgian investment firm Vermec N.V. The Delft based high-tech company that is specialized in solar simulation technology will use the investment to expand international sales and service operations.
Leading research institutions, solar module manufacturers and certification authorities rely on Eternal Sun’s solar simulation systems for testing the quality of solar modules and materials. Chokri Mousaoui, Founder and CEO of Eternal Sun comments: “In an era of continuous improvement of solar modules, our solar simulation systems are in high demand with customers that aim to accurately test the performance and reliability of their solar technology. The capital injection will be used to meet this growing demand.”
Mousaoui adds: “We are delighted to have Vermec as an investment partner. The founders of Vermec are successful entrepreneurs, and they invest their own money in other entrepreneurs. As a team, they have a proven track record in scaling up businesses in a fast paced environment and are seasoned in managing growth.”
Michel Verhaeren, CEO of Vermec: “We are excited about Eternal Sun because the company focuses on the intersection of the solar industry and quality assurance, both of which are gaining importance worldwide. We are glad to engage with this talented team, and look forward to the upcoming period of development and growth.”
Eternal Sun is an alumnus of Climate-KIC and has participated in Stage 2 and 3 of the Accelerator program. The startup won the Dutch edition of the Climate-KIC Venture Competition in 2012, and won the Publics’ Choice Award of the Climate KIC European Venture Competition in Bologna in 2013.
About Eternal Sun B.V.
Eternal Sun is a Dutch high-tech company, founded as a spin-off from Delft University of Technology in 2011. The company specializes in solar simulation technology for the purpose of product and material testing. Eternal Sun has enjoyed 3 consecutive growth years and is serving customers worldwide in innovation hubs in Asia, Europe and the Middle East. In 2013, the company won the Global Ideas Award at the Cleantech Open Global Forum in Silicon Valley.
About Vermec N.V.
Vermec is a professional family office that invests in ambitious growth stage enterprises and projects. Vermec offers long term capital, unique operational experience and a constructive sounding board. The firm is located in Brussels, Belgium and manages a portfolio of different types of assets in a broad range of sectors and geographical locations.