Abora Solar: Making the world’s most efficient hybrid panel come true

Our understanding of real estate investments also includes investing in start-ups and innovative projects that seek to improve livability in homes, develop the most efficient solar panel and the most intelligent home automation systems… In a nutshell, it’s all about focusing on growth for people.

That’s why we were delighted to be able to collaborate with Abora Solar. A company that since its beginnings in 2017 has received numerous awards at both national and international levels. They include the Energy Globe Award, the world’s most prestigious environmental award, the CaixaBank EntrepreneurXXI and the IDEA Award given by the regional government in Aragon.

Starting point: a revolutionary solar panel looking for finance

The SHE solar panel (Solar Heat and Electricity) uses hybrid technology. This consists of photovoltaic cells that produce electricity at the same time as a system for heating water. It has a performance level of 89%, considerably higher than the market average. It is capable of generating the same amount of energy as five photovoltaic solar panels making it profitable in less time. This means savings of between 50% and 70% in energy costs.

Another relevant aspect of the project is that all providers of its components are from Europe, which reinforces Synesi’s European outlook.

Obviously, as well as the huge technological challenge it represents, a project of this kind also faces additional requisites.  

The need for financing

Although Abora Solar received a round of investment from the European Innovation Council (EIC), the development and production of the solar panel needed additional funding to guarantee the project’s viability in the medium and long term.

The need for support in management tasks

Like most start-ups and the most innovative technological companies, Abora Solar needs to focus its efforts on what makes it different – its ability to find new solutions for existing problems.

Dedicating time and resources to other tasks may mean its projects get slowed down. Or put another way, it takes longer for society as a whole to benefit from its I+D+i.

The Synesi solution: financing and involvement

Our involvement in the project was decisive, multi-disciplinary and most important of all, effective. We made a decisive contribution to the constitution and viability of the project by getting €425,000 in financing for the launch of the company.

As with as this funding, Synesi collaborated in management, administration and internationalization tasks:

  • Together with a specialist legal firm, we coordinated the filing of the patent application for Abora and data protection for the Authorized Partner Representation Agreements.
  • We took on part of the company management (accounting, employment and tax requirements) for Abora Solar until Synesi’s clients divested.
  • We acted as financial controllers, advising on deviations from cash forecasts and suggesting ways to correct them.
  • We supported the company’s international sales agenda in Colombia, Mexico and the Netherlands where we connected Abora Solar with local companies within the sector.

Conclusions and learnings

In 2019, once the project gained traction, investors from Synesi sold their shares to companies and entities able to bring higher added value to Abora Solar.

Synesi clients obtained returns in excess of 25% on their investment, having helped make a start up’s exciting project come true and shared common values of profit, utility and sustainability.