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Leonardo DiCaprio Is Betting On Solar Energy In Spain

March 14, 2024
x min read

There’s a new startup aiming to accelerate the adoption of solar energy in Spain.

What’s happening:

  • Barcelona, Spain based solar startup SolarMente has raised €1.8M in a seed round financing which saw Leonardo DiCaprio join as an investor
  • SolarMente previously landed a €50M debt deal from Barcelona private equity company GNE Finance

The big idea:

  • SolarMente provides solar energy subscriptions to Spanish residents, aiming to create a frictionless and inexpensive onramp to integrating solar energy into their homes
  • SolarMente also offers battery storage systems, electric vehicle charging stations and heat pumps in order to help get the most out of the renewable energy residents are generating once solar panels have been installed

By the numbers:

  • SolarMente is currently adding about 100 new subscribers per month within Spain
  • Of the existing residences SolarMente has installed solar panel infrastructure in, approximately 60% of those customers have gone on to purchase a battery for energy storage from SolarMente

Going deeper:

  • Legendary Silicon Valley accelerator Y Combinator was one of the first backers of SolarMente

The intrigue:

  • Leonardo DiCaprio has made a variety of notable investments into sustainability focused companies, including Beyond Meat (NASDAQ: BYND), cultivated meat startup Wildtype and Swedish electric vehicle company Polestar (NASDAQ: PSNY)

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