Lightyear, a high-tech company based in the Netherlands, has announced the receipt of strategic investments from two South Korean venture capital funds, Sunbo Angel Partners and Lighthouse Combined Investment. Both funds have recognized Lightyear’s potential to create highly efficient solar vehicle technology and have ties to South Korea’s automotive industry and other manufacturing corporate alliances. Through this investment, Lightyear will gain access to Sunbo Angel Partners’ and Lighthouse’s robust ecosystem, including next-generation technologies in solar energy, electric motors, and advanced manufacturing capabilities. These investments will broaden Lightyear’s access within the strong South Korean automotive sector and strengthen its commercial pipeline and supply chain.
Lightyear has built up a broad and strong patent portfolio supporting the development of highly efficient solar electric vehicles. In 2019, the company launched its first driving prototype, Lightyear 0, which demonstrated multiple unprecedented technologies for highly efficient electric vehicles and integrated solar. Currently, Lightyear is mainly focused on the development and production of solar-integrated technologies for third-party vehicle manufacturers.
Youngchan Choi, the CEO of Sunbo Angel Partners, expressed excitement about joining forces with Lightyear and witnessing the synergies that arise from this collaboration. The CEO emphasized the value that Lightyear brings in the current times and its power to steer the market towards efficient solar electric vehicles.
Dr. Bernd Martens, former member of the board of management at Audi AG and advisor to the company, highlighted the significance of South Korean automakers as early adopters of groundbreaking technologies. He noted that the investment from Sunbo Angel Partners and Lighthouse is an exciting step to strengthen Lightyear’s commercial pipeline and supply chain and offers opportunities for further synergies on a technology level.
