ABN Amro acquires majority stake in Eternal Sun Group
Post date: 13/02/2019 - 19:25
Dutch solar simulator supplier Eternal Sun BV (ESG) and ABN Amro Energy Transition Fund (ETF) announced that ABN Amro ETF has taken a majority stake in the provider of test solutions for the solar industry. According to the company, ESG shareholders and ETF have come to terms on an agreement »for a new shareholder structure and additional funding to accelerate ESG’s growth.« New PV module technologies and an increasing demand for highly accurate testing »provide a strong growth outlook« for the company’s high-end market segment served through its brands Eternal Sun and Spire.
Using ABN Amro ETF’s investment, Eternal Sun Group »will build out the global team and focus on new products and test services,« says the company. Florian van Rijn van Alkemade (CEO), co-founder Stefan Roest (CTO) and Erik Bentschap Knook (CCO) will continue to lead the company. Co-founder Chokri Mousaoui concluded his leave by selling his shares in this transaction. Financial details were not disclosed.
The Energy Transition Fund is an initiative of Netherlands-based financial services provider, ABN Amro. The fund typically makes equity capital investments in companies and projects in the energy transition in the range of €10 million to €25 million ($11 millin to $28 million). The fund geographical focus is in Northwest Europe.