A £1m investment has been made into County Durham solar power specialist Power Roll to help it scale up and commercialise its innovative products worldwide.
Power Roll has developed an ultra-thin solar film which can generate and store electricity, and which can be installed on a raft of surfaces including rooftops and sides of buildings, as well as off-grid applications to provide portable power. The firm’s solar film is capable of producing green electricity that is significantly cheaper to make than existing flexible solar photovoltaic (PV) technologies.
The Jade Business Park based business has now received a further £1m following a funding round led by Maven Capital Partners. The transaction is made up of two investments from Maven-managed regional funds including a £750,000 investment from the North East Development Capital Fund, supported by the European Regional Development Fund, and a £250,000 investment from the Finance Durham Fund, established by Durham County Council and overseen by Business Durham.Source: Business Live