SunRoof buys Redlogger to develop and launch a tech platform that sells surplus energy generated by SunRoof solar panels.
FREMONT, CA: Swedish solar roof manufacturer SunRoof acquires Redlogger, a Swedish company that develops hardware and software to help renewable energy producers. This latest acquisition is to release a tech platform that sells surplus energy generated by SunRoof solar panels, starting with the Polish market.
SunRoof’s ambition is to become the largest energy marketplace in Europe and to use the Redlogger infrastructure to create a platform that can compete with Tesla’s Autobidder. By joining forces, SunRoof can digitise the energy market and promote the use of renewable energy sources.
The Nordic tech startup (the name refers to “Renewable Energy Data Logger”) has developed a system that measures and reports gross production of renewable energy so that renewable energy producers can better handle their supply or receive compensation from the Swedish Energy Agency. Redlogger, previously available only in Sweden, will soon be available in all countries where SunRoof operates.
Additionally, to the solar energy marketplace mentioned above, SunRoof will leverage the acquired technology to develop a digital home platform. This new system will inform homeowners how to best use the electricity – whether to charge an electric car, store the energy in a battery or sell the surplus on the e-commerce platform.
As for details of the deal, some of the acquisition-related transactions were cash transactions, while some involved SunRoof shares, meaning that key Redlogger staff have become SunRoof’s partners.
SunRoof’s goal is to create a solar roof with a modern design that would replace the conventional roof and produce ecological electricity without having to deploy photovoltaic panels. The company reports 500 percent year-on-year growth, which amounts to deploying 100 roofs in Sweden, Norway, and Poland. Redlogger is a system and an application which logs the amount of green energy that is generated and consumed.