Merlin Solar, a US-based company specializing in solar panels designed for mobile environments and rooftops, has successfully raised nearly USD 31 million (approximately EUR 28.6 million) in a Series B funding round.
This capital will be allocated towards increasing production capacity and securing working capital to meet the growing demand from customers.
The funding round was co-led by asset manager Fifth Wall and French building materials manufacturer Compagnie de Saint-Gobain SA , with additional participation from Ayala.
Founded in 2016, Merlin Solar utilizes patented technology to produce metal grids that function as intra-cell and inter-cell interconnects. The company's product lineup includes both glass and non-glass modules, as well as complete microgrid systems.
Notably, Merlin's panels are frameless, flexible, and significantly lighter—75% lighter than conventional solar panels—allowing them to be adhered directly to most surfaces. This innovative approach makes them suitable for a wide range of applications, including various types of vehicles, roofs, and portable installations.
The funding is expected to enhance Merlin Solar's ability to meet increasing customer demand and further establish its presence in the solar energy market.
