Eltex raises 1.8 million to triple turnover in 2026

From his native Belgium, Charles Deknudt always knew he wanted to be an entrepreneur. From a very young age, he started setting up sales businesses to save money to boost his own company and, while studying at university, he hit on the key: solar energy piqued his interest, combining "market opportunity and impact." Researching the markets with the most potential to bet on solar energy, at 21 years old, Deknudt saw the best opportunity in Barcelona, where he settled in 2021 to promote Eltex.

Powered only by self-funded savings from his previous sales career, the company has since grown to a turnover of 10 million euros this 2025. Now, it has closed its first investment round, with 1.8 million euros, in an operation led by German impact funds Vireo and KOPA Ventures.

To grow to this 10 million euro turnover, Eltex has evolved to integrate not only solar energy, but also aerothermal energy and a technological platform to facilitate home electrification, which includes feasibility studies, automation, logistics, installation coordination, and customer experience.

"We started as a solar company, but customers had interests beyond that, and we have been incorporating services. Now we are no longer just a solar company, but a company that takes care of the customer's home electrification journey," highlights Deknudt, now 26 years old.

In parallel, Eltex has articulated a network of installer partners with standardized quality processes, and has taken its first step in internationalization: Italy. The Barcelona-based company already landed in the Italian market in 2022, where it has a team of ten people, who join the 60 operating from Spain. Now, they already have their sights set on the next destination, and everything indicates that it will be Poland.

This growth will be propelled by the round, with which Eltex will accelerate the development of its technological platform, while expanding its network of installers in both Spain and Italy. With one goal: to position itself as a technological benchmark for home electrification. It will continue to do so from Barcelona, where conditions such as solar potential, demand for sustainable solutions, and its dynamic technological ecosystem converge.

With more than 2,000 clients and 3,000 installations in Spain —including solar and aerothermal— and 500 in Italy, Eltex aims to increase these figures to triple its turnover by 2026, with the goal of reaching 30 million euros next year. To do this, it will also grow in technology, to maximize process automation and thus contribute to the advancement of the energy transition.