As per ESG Today, 2019-founded ZE Energy operates hybrid solar power sites with energy storage systems in place and the company also finances other players that can provide fixed renewable energy solutions for the long term. Company officials said that they are on track to achieve a portfolio of 900 MW solar capacity, as well as 600 MWh energy storage capacity by the year 2026.

Mathieu Lassagne, founder of ZE Energy, said that "our model, combining solar power generation and energy storage, is attracting growing interest. In the first half of 2024, solar energy prices frequently became negative due to overproduction during certain hours. The ability to store this energy, and thus avoid price volatility, is proving to be the optimal solution for both producers and consumers."

The funding round was led by Amundi Energy Transition and saw participation from other investors, namely The Climate Infrastructure Fund and Sorégies.

The 54 million euros in capital will enable the company to continue operations for the coming two years and will drive expansion in the markets, especially those in Europe.