mylight150

About mylight150

Mylight150 is a French cleantech company founded in 2014 in Lyon, operating with the goal of establishing solar power as Europe's leading energy source. The company was established by siblings Ondine and Virgile Suavet, who currently serve as co-CEOs. Their background is rooted in the Savoy region, where their connection to the mountains fostered an early commitment to the ecological transition. Ondine, an engineer, began her career in the international solar industry, while Virgile founded Alaska Énergies in 2010, a distributor specializing in energy-positive buildings. They combined their expertise to launch mylight150, which provides a comprehensive ecosystem for solar self-consumption aimed at residential and professional clients.

The company's business model is centered on designing, manufacturing, and distributing a suite of integrated solar energy solutions. This includes proprietary photovoltaic panels, energy management systems, and EV chargers. A key component of their offering is the MySmartBattery, a virtual storage solution. This system allows customers to store surplus energy generated by their solar panels in a virtual account and draw from it when needed, such as during the evening. This approach avoids the high cost, space requirements, and maintenance of physical batteries. Mylight150 operates as an electricity supplier, managing the crediting and debiting of this virtual energy, which allows customers to significantly reduce their reliance on the traditional grid and cut their electricity bills by up to 50%. Revenue is generated through the sale of hardware and a subscription-based model for the MySmartBattery service, starting at €15 per month.

The company's energy management system uses AI algorithms to optimize energy use by forecasting a household's production based on weather data and specific conditions like orientation and shade. It can also control high-consumption appliances, such as water heaters, shifting their operation to times of peak solar production. The company has expanded its operations across Europe, with a presence in France, Spain, Romania, and Switzerland, having equipped over 30,000 homes. In late 2023, mylight150 secured €100 million in a Series D funding round to accelerate its European expansion, particularly in Spain, and to further develop solutions for managing heat pumps and EV chargers. The company, which was on track to generate approximately €100 million in sales in 2023, employs 260 people, with a significant portion dedicated to research and development.