Power Roll raises £2.9m led by GWC to scale green energy film technology.
GWC led the investment round, which brings total funding to £5.7m over the past six months.
Share allotment filed at Companies House
Power Roll develops lightweight flexible film technologies designed for low-cost renewable energy generation and storage applications.
Power Roll has secured £2.9m in a fresh funding round led by GWC, bringing its total capital raised over the past six months to £5.7m. The company, based in Sunderland, will use the proceeds to scale its technology, open a pilot plant, develop new applications such as capacitors and sensors, and expand its workforce.
The latest capital injection was delivered through a combination of equity and convertible loan notes. GWC facilitated the investment by connecting the company with its network of ultra-high-net-worth individuals and family offices.
Power Roll produces lightweight solar film using a microgroove design that targets non-load-bearing roofs and off-grid applications. The firm anticipates announcing further strategic partnerships as commercial delivery progresses.
From the founder
"The success of our latest funding round will ensure that we have sufficient capital to meet key milestones as we scale up the technology,"
Neil Spann
CEO at Power Roll
Investor perspective
"We are very excited about Power Roll’s technology and its potential applications in clean energy production and storage. The company has the potential to generate solar powered electricity on numerous building surfaces at a very low cost. The technology is also has significant application in energy storage. We look forward to working with the management team and fellow investors."
Ian Leigh
CEO and Founder, GWC
Use of funds
- 01Grow the team
- 02Continue product development
- 03Build out infrastructure
Investors
Categories
About the company
Power Roll
Power Roll creates ultra-low-cost flexible film for solar energy generation and storage.