SecondSol, the internet platform for used solar components receives funding from ThGF

The Thuringia based Sec­ond­Sol GmbH, the first inde­pen­dent plat­form for used solar com­po­nents receives fund­ing from the Thüringer Grün­der­fonds (ThGF) which is man­aged by bm|t beteili­gungs­man­age­ment thürin­gen GmbH. The growth cap­i­tal will be pri­mar­ily used for set­ting up scal­able com­pany struc­tures and pro­mot­ing the national and inter­na­tional expan­sion of the platform.

„Cur­rently there are only few small providers in this attrac­tive and grow­ing mar­ket seg­ment and we are pleased about the bm|t invest­ment that will enable us to become the inter­na­tional leader in the used solar com­po­nents mar­ket.” Frank Fiedler, founder and man­ag­ing direc­tor of Sec­ond­Sol GmbH explains.

„The excel­lent rela­tion­ships within the solar and insur­ance indus­try and the already great demand from national and inter­na­tional cus­tomers con­vinced us that Sec­ond­Sol has the poten­tial to become a suc­cess story.” Stephan Beier, Invest­ment Man­ager at bm|t adds.

bm|t beteili­gungs­man­age­ment thürin­gen gmbh, Erfurt, is a sub­sidiary of Thüringer Auf­baubank. bm|t serves as a man­age­ment com­pany for six invest­ment funds with a total cap­i­tal of approx. € 230m. At present bm|t’s port­fo­lio con­sists of approx. 40 com­pa­nies based in Thuringa.

The inter­net plat­form (www.secondsol.com) pro­vides a mar­ket place for sell­ers and buy­ers to trade solar com­po­nents . Besides used prod­ucts Sec­ond­Sol also sells man­u­fac­tur­ing sec­onds and over­stocks from solar com­po­nent pro­duc­ers and wholesalers.

The fund was estab­lished in 2011 to pro­vide equity cap­i­tal for early-stage tech­nol­ogy com­pa­nies in Thuringia. Such com­pa­nies can be sup­ported with eco­nomic equity of up to € 500.000. To this date the fund has a vol­ume of € 4 Mio.