Solum closed a round of €750,000, led by Fondo Bolsa Social along with Capital Energy and Wayra

• The Andalusian startup is developing solar charging stations for light electric vehicles, using technology that is unique in the world.
•  The goal is to strengthen its presence in Spain and to begin working on the European market. 

Seville, 27 July 2021.- The Andalusian technology company Solum, creator of a solar pavement that is the first in the world, has just closed a funding round of €750,000. The operation, which is led by Fondo Bolsa Social, also comprises the Spanish energy company Capital Energy Quantum, Capital Energy’s corporate venturing section, and Wayra, Telefónica’s open innovation hub. It is also backed by the Business Angel Toni Vera, through his investment section Beringia. By closing this injection of capital, the company aims to strengthen its presence in Spain, double its current work team and begin to work on the European market, especially in countries such as Italy and France. 

Solum began its activity in 2019, with the goal of using urban areas to generate clean energy. To this end it has developed a solar pavement that can be walked on 100%, produces this type of energy thanks to its photovoltaic technology, and has no visual impact on the urban landscape, as it does not require any special installation or maintenance, the same as any type of pavement. Thanks to the boom in micro-mobility, this innovative solution can be applied to create charging stations for light electric vehicles, such as e-scooters, at any point in the city, guaranteeing the renewable origin of the power consumed.

Specifically, a station has already been set up for electric scooters at the Parque Científico y Tecnológico Cartuja (PCT Cartuja), in Seville, which is part of a joint project developed by Solum and the mobility operators Reby and VOI. With this initiative, which is already being negotiated with other city halls, the companies seek to become a reference in using renewable power sources in urban areas.

Carlos Rodríguez, CEO of Solum, states that “this injection of capital will allow us to begin an international expansion through Italy and France, as well as to take our electric vehicle recharging stations to the major Spanish cities. We want to contribute to regulating electric scooters, which are so in-demand at the moment, and to guaranteeing their sustainability. Also, thanks to this boost we will be launching a station for electric bicycles in late 2021”.

José Moncada, director of the Fondo Bolsa Social, pointed out that “Solum contributes with an innovative technological solution to promoting the opportunities provided by urban micro-mobility. We see a huge potential in the company, and a clear commitment to sustainability. Their solution is sustainable, versatile and smart. We are very happy to partner with Carlos and his team during this expansion stage and to help them multiply the positive social and environmental impact of this project”.

For Erika Escolar, director of Capital Energy Quantum, the energy company’s corporate venturing section, “this alliance is contained within the company’s commitment to using innovation and collaboration with differential startups, such as Solum, as leverage for transforming the energy sector, and all those linked to the mass emission of CO₂, as is mobility, thus accelerating the necessary decarbonisation of the economy”.

“Mobility is undergoing a total transformation, therefore an initiative such as Solum is very interesting, because it also provides the great advantage of sustainability. We have committed to this project to help them move up through Telefónica's clients because we believe that urban micro-mobility is going to be key in the near future”, pointed out Paloma Castellano, director of Wayra Madrid

Solum was accelerated in the 2019 edition of Andalucía Open Future and is one of the winners of the fifth edition of Telefónica’s Sustainable Innovation Initiative (SII). Their current clients includeTelefónica, Naturgy, Grupo CRH and Puertos del Estado.

About Solum

Solum is a technological company founded by three Andalusian entrepreneurs, specialising in developing technological, smart and sustainable products thanks to the application of solar technology, with the goal of helping transform cities into more inhabitant-friendly and human places.

Their proposals for integrating clean energy into Smart Cities have already received awards in various events and have been promoted by organisations such as the European Institute of Innovation and Technology (EIT), the University of Berkeley, Seville City Hall and the Andalusian Regional Government.

About Fondo Bolsa Social

Bolsa Social Impacto FESE is a social-impact fund that invests in Spanish companies at early stages (pre-seed, seed and series A) that have a high potential for growth and the mission to produce a measurable positive impact on society or the environment. The Fund invests in projects involving health and wellness, inclusive and quality education, responsible production and consumption, actions for the climate and social integration and development. Registered by the CNMV as a European Social Entrepreneurship Fund (EuSEF), it is managed by the managing company of International Financial Analysts (Afi Inversiones Globales, SGIIC) and its consultancy team is led by José Moncada, founder of the platform La Bolsa Social. 

About Capital Energy Quantum

Endowed with €20 million, Quantum, the corporate venturing fund launched by Capital Energy in October last year, aims to identify a portfolio of EnergyTech startups in Spain and Portugal with the potential to transform the energy sector, reach agreements and invest in them over the next five years.

Capital Energy is a Spanish energy company founded in 2002 with the aim of becoming the first vertically-integrated 100% renewable energy operator in the Iberian Peninsula. It currently has a portfolio of wind and photovoltaic projects on the Iberian Peninsula totalling more than 35 gigawatts (GW) of power, of which approximately 8.7 GW already have network access grants.

About Wayra

Wayra is the entrepreneurship initiative comprised within the Open Innovation program by Telefónica, the most global, technological and connected program in the world. It has seven Wayra Hubs, areas in nine countries in Latin America and Europe, through which it invests and backs the startups; Wayra X, a digital hub for investing in 100% digital startups; Wayra builder, a corporate venture builder to create, along with other investors, innovative startups based on Telefónica's internal technological projects; and Wayra Next Trend, a window to digital innovation on trends and innovative applications. Additionally, through the Wayra Activation Programme it offers entrepreneurs exclusive and free access to new technologies, through Telefónica’s own platforms.

Over 500 of the participating startups are part of Telefónica's Open Innovation program, and over 130 of these are conducting business with the company.