About the Company
SolarTech Innovations was an incubating company that had designed their own solar products. R&D period was 6 years in the making. They are based in Switzerland and is a noticeable competitor in the Energy space.
Problem
They have quality and sustainable products called the SolarTPanel. The business model they adapted made it difficult for their customers to see the value. By charging the residents for installation, maintenance and yearly servicing fee, customers were scarce. When they first approached Anima, they were struggling to stay afloat because they found it difficult to execute their revenue generation strategy. Their B2C model was designed around targeting residents, this was an expensive affair for residents as there was no policy or push to make the change to solar energy.
Pivot
- We understood the impact products of SolarTech would have to generate clean energy and environmental sustainability. Anima devised a strategic plan to attract investment from ESG conscious corporations and
investors - Value creation was done when we understood the financials of their business model. Instead of charging the users a fee to implement SolarTPanel, a recurring revenue stream opened up when residents pay a smaller bill towards their electricity requirements.
- By charging for the electricity consumed, residents have a smaller consumption rate and a percentage of electricity bills are tax-deductible for the resident.
- Government policies were changed in Switzerland to accomodate SolarTech’s go-to-market strategy as they had to bypass some of the existing energy providers.
Update
Residents immediately understood the benefits of solar energy. SolarTech had educated their market in a short amount of time. Strong channels like referrals, news channels, radio stations and other mass communication routes were set up within 6 months. They have successfully reached series D in their funding journey and is on track to go public by 2025.