Information on the Target

Founded in 2014 by Ondine and Virgile Suavet, mylight150 is a leading group in energy transition, specializing in the design and distribution of intelligent energy management systems and solar self-consumption solutions. The company aims to position solar energy as the primary source of energy while sustainably reducing energy bills for households and tertiary buildings through innovative technology solutions.

Active in France, Spain, Switzerland, and Romania, mylight150 offers a comprehensive range of integrated residential solar solutions, which includes proprietary photovoltaic equipment such as solar panels and energy management systems, alongside digital tools and intelligent energy management services. One of their standout products, MySmartBattery, allows users to store excess electricity generated by solar panels for free use during the evening, effectively halving their electricity bills. The company has quintupled its revenue and workforce over the past three years, demonstrating its robust market position and growth potential.

Industry Overview in France

The European electricity consumption for households is projected to double over the next decade as a result of electrification in heating (via heat pumps) and transportation, particularly electric vehicles. The French government plans to deploy 10 million heat pumps and 15 million electric vehicle charging stations over the next 15 years, presenting significant market opportunities.

This electrification wave brings two major challenges: the need to increase electricity production and the imperative to optimize consumption and costs. The anticipated surge in electricity production will primarily come from renewable energy deployment, particularly solar energy, with the European Union targeting a 42.5% share of renewable energy in its overall consumption by 2030. Residential solar self-consumption, led by mylight150, is one of the fastest-growing sources of green electricity generation, having increased by 200% in France and 300% in Spain over the past two years.

Furthermore, solutions that synchronize production and consumption, like those developed by mylight150, are crucial for managing demand dynamically. This approach reduces consumption peaks, minimizes electricity price surges, and aids the decarbonization of the existing energy system. Intelligent management of high-energy appliances through smart systems is expected to become the norm, driven by the necessity to control energy costs.

The Rationale Behind the Deal

This substantial funding round of 100 million euros aims to accelerate mylight150's growth and expand its offerings in the European residential market. The company plans to enhance its technological edge while also broadening its geographical footprint, particularly in Spain, where it seeks to introduce additional services like MySmartBattery.

Mylight150 is also targeting new market segments by developing solutions optimized for heat pump use. As households shift from fossil fuel systems to electric ones, their electricity demand is set to increase significantly. Furthermore, the company intends to extend its ecosystem to include electric vehicle chargers, fostering broader adoption of its solutions.

Information About the Investor

The funding round is co-led by Eiffel Investment Group, Azora Capital, and Andera Partners, with participation from historical investor Elevation Capital Partners. Eiffel Investment Group specializes in energy transition and sustainable investments, managing assets totaling approximately 5.5 billion euros. Their fund, Eiffel Essentiel, is particularly focused on companies dedicated to ecological transitions in key sectors.

Azora Capital, with over 9.7 billion euros in assets under management, emphasizes sustainable investments in the built environment and is known for its experience in renewable energy development. Andera Partners, managing over 4 billion euros, is committed to supporting transformative energy infrastructure initiatives. Together, these investors bring substantial financial backing and sector expertise to mylight150's ambitious growth plans.

View of Dealert

The recent investment in mylight150 appears to be a compelling opportunity within the burgeoning renewable energy sector. Given the increasing market demand for solar energy solutions and energy efficiency technologies, mylight150 is positioned advantageously to leverage its leadership in solar self-consumption. The firm already demonstrates a proven track record in expanding its customer base and product offerings, suggesting a strong likelihood of continued growth.

Furthermore, as governments ramp up efforts to meet renewable energy targets, investment in companies like mylight150 that contribute to sustainable energy solutions aligns with market trends. The projected doubling of European household electricity usage presents an increasing need for innovative solutions to manage and optimize consumption, which mylight150 is well-equipped to provide.

Overall, considering the strategic direction of mylight150, the expertise of the investing groups, and the market environment, this deal seems to solidify mylight150's competitive position while offering substantial growth potential in the coming years. Such developments not only promise financial returns but also contribute significantly to the transition towards a more sustainable energy economy.

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