Beacon VC and SUN Group Close $3 Million Series A Funding Round for Thai Solar Startup ION Energy

In a significant move towards advancing sustainable energy solutions in Thailand, Beacon VC, the corporate venture capital arm of Kasikornbank, has collaborated with Solar United Network Group (SUN Group) to finalize a Series A funding round of $3 million for ION Energy Company Limited (ION), a pioneering solar energy startup based in Thailand.

Mr. Thanapong Na Ranong, Managing Director of Beacon VC, highlighted the significance of this investment as a milestone for Beacon Impact Fund, emphasizing ION Energy’s role as the first Thai startup to receive funding through the fund. The investment aims to bolster ION’s capacity in providing affordable solar energy solutions to a wide customer base, including residential users and small-and-medium-sized enterprises (SMEs), with a focus on product development and service expansion.

Beacon VC sees immense potential in ION’s technology, particularly its Solar Monitoring & Payment Platform and Home Energy Management System, which facilitate seamless transition to solar energy for both residential and business users. ION’s future plans include peer-to-peer energy trading and Renewable Energy Credit (REC) aggregation, further enhancing its position in the solar energy ecosystem.

Peerakarn Manakit, CEO of ION Energy, expressed gratitude for the $3 million Series A funding, emphasizing its significance in supporting ION’s expansion plans. The funding will be allocated towards expanding ION’s Engineering, Procurement, and Construction (EPC) services, as well as its Private Power Purchase Agreements (PPAs) model, enabling businesses to access clean electricity at reduced costs.

Hendy Limadi Tohan, Director of SUN Group, underscored SUN’s commitment to the solar energy market in Thailand, outlining plans for a comprehensive clean energy platform in collaboration with ION. This strategic partnership aims to leverage technological integration to simplify the customer journey and accelerate the adoption of solar energy solutions in the Thai market.