Company Overview

Business Model

The company specializes in solar-powered mobility applications, focusing on the retrofit and integration of proprietary solar technology into third-party commercial vehicles. After the termination of the Sion passenger car program due to funding issues, the company shifted its focus to a more sustainable model aimed at addressing growing demand for energy-efficient and low-emission transportation solutions.

Product Portfolio

1. Solar Retrofits

   • Primary Product: Solar Bus Kit
   • Expansion: In 2024, expanded to include retrofit solutions for:
     • Trucks
     • Vans
     • Refrigerated trailers
     • Coach buses
     • Panel vans
   • High-Voltage Solutions: Introduced in 2025, designed for vehicles with larger energy demands.

2. Solar Charge Controllers (MCUs)

   • Low-voltage and high-voltage variants to optimize energy conversion and integration with vehicle electrical systems.

3. Complete Solar Solutions

   • Fully integrated solar systems tailored for various types of commercial vehicles, featuring:
     • Solar panels
     • Charge controllers
     • Telematics and dashboard services

4. Standalone Products

   • Solar modules and engineering services designed for OEM adoption and fleet management integration.

Customers

• Current focus includes various municipal and corporate fleet operators.
• Engaged with potential customers through letters of intent and pilot projects, though no large-volume binding contracts have been executed yet.

Workforce

• As of March 28, 2025, the company had 43 employees, of which 34 were full-time. There is a planned reduction in staff, with projections to employ around 36 individuals by July 2025 due to business scaling needs.

Financial Overview

• Revenue: The company reported €65 million in revenue for the year ending December 31, 2024, primarily due to one-time revaluation gains.
• Income: An accumulated deficit stands at €321.4 million as of December 31, 2024, compared to €386.5 million from the previous year.

Intellectual Property

• The company possesses 9 granted patents and a total of 38 patent families, further solidifying its position in solar technologies related to vehicle integration.

Market Position

• As a pioneer in the solar mobility sector, the company aims to leverage increased collaborations with OEMs and capitalize on the growing push for sustainable energy solutions in commercial transport.

Challenges and Future Goals

• The company is navigating existing financial turmoil and seeking to access the unfunded portion of an investment agreement with Yorkville, aiming to stabilize operations through Q1 2026 and secure substantial new customer contracts.