Oslo-based Glint Solar closes $8m to accelerate global solar power adoption
Oslo-based solar developer software Glint Solar, has secured $8 million Series A funding round led by Smedvig Ventures with participation from Momentum, Futurum Ventures, and Antler.
The solar power industry has seen record growth over the last few years, with the annual global solar PV capacity increasing by 87% between 2022 and 2023. However, more still needs to be done to achieve the goals established in the Paris Agreement. Glint Solar is accelerating the adoption of solar power and mitigating climate change through our SaaS platform, which enables solar developers to evaluate and pre-design sites in a matter of minutes.
Glint Solar was founded after realization that while solar is one of the most efficient and cost-effective ways of curbing the climate crisis, projects move too slowly. With 73% of solar development companies’ time spent on projects that don’t make it to the permitting stage, there is an urgent need for better tools and insights on solar development. Glint Solar is committed to making solar development faster and less error-prone by building the world’s leading development platform for solar and BESS.
“The solar industry has done a great job at developing ways to harvest green energy, but now we need better processes to get these plans in motion. This is the gap that Glint Solar is filling. As one of the first unified products for utility projects on the market, Solar Developers, Engineers, Analysts and Management can find everything they need to locate the best land spaces quickly and accurately,” says Jonathan Lerner, Partner at Smedvig Ventures.
Glint Solar supports companies like Turn Energy, Statkraft, E.ON, Recurrent Energy, and many more across the 35+ countries where their customers work. Glint Solar believes in a partnership model where the focus is on understanding customers’ challenges and coming up with the best solutions, which is a true win-win model.
“The Glint Solar software has significantly boosted our development processes by having a centralized platform where we can evaluate buildability, permit conditions, and yield as early as in the origination process. It has effectively allowed us to 3x our project pipeline and reduce development costs. We’re very excited to follow Glint Solar’s continued innovations in the solar software space,” says Gustav Alberius, Chief Strategy Officer at Turn Energy:
This latest investment will be used to expand both product offerings and enter new markets, serving both existing and new solar developers. Looking ahead to 2025, the startup will continue to drive disruption among solar developments with best-in-class insights and tools to ‘get it right from the beginning’, and also extend its software to include BESS development.
