Energy firm Feld secures 10 million euros in funding
In a significant development for the renewable energy sector, Munich-based startup Feld Energy has successfully secured over €10 million in seed financing. The round was led by HV Capital, with participation from Future Energy Ventures, AENU, and Angel Invest.
Founded by Adrian Renner and Lukas Zels last year, Feld Energy specializes in Agricultural photovoltaics (Agri-PV). This innovative technology allows farmers to utilise their land for both crop cultivation and electricity generation, addressing the growing land conflict between food and energy production.
Adrian Renner, co-founder and CEO of Feld Energy, aims to demonstrate that agriculture and renewable energy can complement each other to create lasting value. His vision is to increase the resilience of agriculture and accelerate the path to a carbon-neutral economy.
The technology developed by Feld Energy reduces water consumption and protects farmers against crop failure, making it a strong contender in the Agri-PV sector. Jan Palasinski, partner at Future Energy Ventures, identifies Agri-PV as a strong trend due to its win-win solutions for farmers and its contribution to the green energy transition.
Both HV Capital and Future Energy Ventures believe that Feld Energy is uniquely positioned to unlock the enormous potential of the agri-PV sector. With the funding, Feld Energy plans to strengthen its team and scale its solution so that farmers everywhere can benefit from this dual-use approach.
Jan Palasinski also emphasizes the growing land conflict between food and energy production and Agri-PV's role in addressing this issue. He points out that farmers can generate an additional income of more than €100,000 through a 20-year lease agreement.
David Kuczek, General Partner at HV Capital, expresses confidence in Feld Energy's potential to redefine agriculture's role in the energy transition. He highlights Adrian Renner's ability to build scalable, high-impact companies through previous ventures, further underlining the potential of Feld Energy's Agri-PV solution.
The long-term goal of Feld Energy is to make dual-use agricultural land the norm, benefiting both farmers and the planet. The technology contributes to decarbonization and strengthens the resilience of the agricultural sector.
According to estimates by Fraunhofer ISE, the technical potential of agri-PV in Germany is as high as 2,900 gigawatts. This underscores the immense potential of Agri-PV in addressing the challenges of food and energy production while contributing to a greener future.
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