UrbanVolt secures €26m from Verdane for European expansion
The investment was led by Verdane to support the company as it grows its commercial solar footprint across Europe.
≈ £22.2M at €1 = £0.8557 on 31 Aug 2023
Dublin-headquartered UrbanVolt provides solar energy solutions through a service model that removes upfront capital costs for business customers.
Dublin-based solar energy provider UrbanVolt has secured €26m in funding from Verdane to accelerate its expansion across European markets.
The capital will support the company as it seeks to extend its commercial solar offerings in Ireland, the UK, and the broader European region. UrbanVolt operates a Solar-as-a-Service model that finances, installs, and maintains solar panels for business clients without requiring upfront capital expenditure.
The investment arrives as European solar panel capacity experiences rising demand, with projections indicating significant growth over the coming decades.
From the founder
"Securing this €26 million funding from Verdane marks a pivotal moment for UrbanVolt as we set our sights on an ambitious European expansion. We are thrilled to have the support of Verdane, a renowned specialist growth investor and fellow certified B Corp company, who share our vision for a sustainable future."
Kevin Maughan
CEO at UrbanVolt
Investor perspective
"We are delighted to partner with UrbanVolt and support their ambitious expansion plans. UrbanVolt’s unique approach to providing affordable solar energy solutions aligns perfectly with Verdane’s focus on backing decarbonisation-oriented businesses. Together, we aim to further develop UrbanVolt’s offerings and bring their sustainable solutions to more businesses across Europe, driving positive impact for the environment and the economy."
Reed Snyder
Principal, Verdane
Use of funds
- 01Expand into international markets