Solar simulation technology firm Eternal Sun has received €2 million worth of growth capital investment from family-owned, Belgian fund Vermec. The investment will be used to expand the company’s growth in terms of international sales and services.
Founded in 2011 by TU Delft alumni Chokri Mousaoui and Stefan Roest, Eternal Sun specializes in state-of-the-art simulation systems that can mimic sunlight with up to 98% accuracy. These systems are used to test the quality and performance of solar panels and to determine the shelf life of paints, plastics, airbags and other materials.
“Because the solar energy market worldwide is experiencing strong growth and an increasing emphasis is placed on the quality and reliability of solar panels, there is a growing demand for our products,” said Eternal Sun CEO Chokri Mousaoui in an official statement published on the TU Delft website. “The sun affects the life of almost all materials. Customers such as renowned research institutes, solar panel manufacturers and certifying bodies are therefore interested in our technology.” Indeed, the company aims to become technology leader in the supply of solar testing equipment in multiple industries over the next five years.
Besides injecting capital into Eternal Sun, Vermec plans to share its entrepreneurial expertise with the solar technology firm on a collaborative basis. “What makes Eternal Sun special is that it operates at the cutting edge of the solar industry and the segment of quality control. Both issues are becoming increasingly important worldwide,” said Vermec CEO Michel Verhaeren, in a statement published on the TU Delft website. “We look forward to working with the talented team of Eternal Sun and to be part of the next phase of growth of this promising business.” The €2 million financing marks Vermec’s fourth major investment this year.
Since its foundation, Eternal Sun has received a number of international business and design awards, including the 2011 BearingPoint Benelux and BearingPoint European Awards, Grand Designs London Product of the Year and, most recently, the 2013 TANS Talent Award in the Netherlands. The firm is among the many successful start-ups to have graduated from the YES!Delft programme and is poised to expand its operations. “We are very pleased with Vermec as an investment partner,” Mousaoui claimed. “The founders are successful and experienced entrepreneurs with knowledge on scaling up fast-growing companies. They invest their own money now in other entrepreneurs.” Together with Vermec, Eternal Sun is determined to play a significant role in creating a more sustainable society.