German insurer Gothaer spends EUR 10m in solar firm Wegatech
- German insurance policy group Gothaer is infusing EUR 10 million (USD 9.89 m) right into Cologne-based lasting energy modern technology service provider Wegatech Greenergy GmbH as part of strategic cooperation.
With the investment, Gothaer will get an equity risk in the business and also will be qualified to select two representatives on Wegatech's advisory board, both business said in a joint declaration on Tuesday.
Established in 2010, Wegatech mounts solar panels, energy storage space systems and also heat pumps for both private customers and companies. Considering that 2011, business has executed more than 2,800 projects, which have created an overall of 47.8 million kWh of clean energy.
The partnership with Wegatech will certainly aid the Cologne-based insurance team increase its 500-50-5 campaign that is meant to support 500 medium-sized business to decrease their co2 exhausts by 50% over the following 5 years. Gothaer's organization customers in this section will obtain an initial complimentary assessment of the essential financial investment in energy-related measures within minutes.
On its part, Wegatech will certainly invest the fresh resources on two strategic goals-- the development of its business-to-business section and also the energy-as-a-service deal for private consumers.