Recently, Mexico-Canada renewable energy company Solfium announced the completion of the first phase of its Series A funding round, raising $7 million, with the total round expected to reach $10 million. The lead investors are Accion and ALIVE Ventures, with participation from other investors such as Kamay Ventures.
The funds will primarily be used to accelerate Solfium’s deployment of distributed solar PV and energy storage solutions across Mexico, making it easier for businesses, their supply chain partners, and even employees’ households to access clean energy.
The Energy Challenges for Mexican SMEs
In Mexico, the majority of businesses are micro, small, and medium-sized enterprises (MSMEs), which form the backbone of the supply chain ecosystem. However, these enterprises commonly face two major issues: high electricity costs and frequent power outages.
Such businesses often lack the capability to build their own energy systems, constrained by both limited capital and a lack of technical support—precisely the gap Solfium aims to fill.
By integrating solar PV generation, energy storage systems, and a digital management platform, Solfium helps businesses reduce energy costs, cut carbon emissions, and provides support encompassing financing, installation, and long-term operation and maintenance.
According to Solfium’s estimates, over the 25-year lifespan of a PV system, clients can reduce their energy expenditures by up to 95%, while effectively mitigating blackout risks through the accompanying energy storage system.
John Fischer, Investment Director at Accion, stated: “By connecting small business owners with the financing needed to access clean solar energy, Solfium is filling a critical gap in Mexico’s energy market. With Solfium, entrepreneurs can manage power outages, stay open longer, sustain revenue streams, reduce carbon emissions, and support Mexico’s transition towards a more sustainable energy future.”
From Coca-Cola to Small Factories in the Supply Chain
Currently, major players like Coca-Cola, several large Mexican banks, and numerous international companies have already begun adopting Solfium’s solutions. These corporations are not only installing solar panels for their own operations but are also bringing thousands of SMEs within their supply chains into the fold.
Since 2022, Solfium has installed 36,260 solar panels, with a total generation capacity of 25 MW. These installations are projected to reduce CO₂ emissions by 281,000 metric tons over 25 years, saving clients approximately $28 million in electricity costs.
This “anchor enterprise + supply chain partners” model not only accelerates industrial decarbonization but also allows SMEs, through affordable financing options, to enjoy the economic benefits delivered by clean energy.
Solfium’s offering goes beyond merely selling equipment. Its core competitiveness lies in combining system integration capabilities with flexible financing solutions, making clean energy projects practically implementable and scalable. This funding round will not only help Solfium expand its footprint in the Mexican market but also provides a replicable model for the global adoption of distributed energy.
As stated by Andrés Friedman, Co-founder of Solfium: “Clean energy should not be a privilege. Our mission is to make solar power accessible to every business in Mexico, while strengthening economic resilience and sustainable development.”
