Success Story
Based in Murton, Power Roll, a pioneer in the solar energy transition, has raised £4.3 million in its most recent funding round, including £1.5 million from NPIF II – Maven Equity Finance, which is managed by Maven Capital Partners as part of the Northern Powerhouse Investment Fund II.
Region/Nation | North East |
---|---|
Sector | Technology |
Programme | Northern Powerhouse Investment Fund II |
Partner |
As Power Roll gears up to fully commercialise its innovative solar product, the funding from investors, including NPIF II, will be used to accelerate the development of Power Roll’s fully operational pilot plant located in County Durham, enabling small scale manufacture of its proprietary solar products.
The business was founded in 2012 on the back of the invention of disruptive solar photovoltaic microgroove technology which revolutionises the way we harness power from the sun. The unique technology pushes the boundaries of solar energy, utilising low-cost film, free from rare earth materials, which is paving the way for a more sustainable future. Power Roll’s current pilot site is built on an old mine, converging the energy of the past, with the energy of the future.
It is opening the door to cultivate solar power in areas that have previously been unreachable, such as one in three commercial sector rooftops that can’t handle the weight of existing solar panels, equivalent to 12 billion square meters globally, as referenced in the UK Government’s ambition to ‘unlock a rooftop revolution’. The film-material provides a lightweight and flexible solution that can be used on rooftops and off grid spaces, replacing carbon emitting diesel generators.
With solar energy expected to be the world's largest source of power by 2050, providing 40% of the world's electricity, Power Roll is committed to transforming and reinventing renewable energy beyond the North East. It has plans to commercially license the manufacturing process internationally and bring the groundbreaking technology across the world, saving carbon and changing the future.