Power Roll, the developer of ultra-low-cost and lightweight flexible solar film for energy generation and storage, has raised a further £5.8 million – taking total investment in the company to well over £20 million. This equity funding comes from a combination of current and new investors and will be used to further develop the production of low cost, flexible solar film towards commercialisation.
Power Roll's unique microgroove technology can be adapted to fulfil a range of functions including solar electricity generation, energy storage and sensing applications for liquids and gases.
Neil Spann, chief executive, Power Roll says: "The environmental, social and political imperative for renewables continues to build and global demand for low cost, lightweight technologies such as Power Roll is growing rapidly. Our flexible solar film can be manufactured more cheaply and transported more easily than silicon PV panels, making it a particularly cost-effective and attractive option for emerging markets. It can also be deployed on non-loadbearing structures like warehouses and farm buildings; offering extensive opportunities to literally 'roll out' new solar without using green field sites. We are excited to be bringing our solution to market and this new funding will help accelerate development and enable us to scale up rapidly towards commercialisation."
The £5.8 million is the first phase of two stages in Power Roll's investment round and demonstrates the market's confidence both in Power Roll's technology and in its applications across several large and fast-growing markets. The first phase was over-subscribed, with the second phase already launched and expected to conclude by mid 2022.
Cam Ross, CEO of Green Angel Syndicate, says: "We are so pleased to be helping Power Roll build a lighter, more flexible way for the world to generate renewable energy. Our investment in this round complements that from an earlier round, and underscores the GAS commitment to growing companies with the technology to fight climate change."
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