Polysolar, a UK-based cleantech company who make windows that generate electricity, has successfully raised more than £800,000 through its equity crowdfunding campaign on Crowdcube. The funding round was launched earlier this month, originally seeking £750,000.
Established in 2007, Polysolar has developed and commercialized transparent photovoltaic glass technology. The company is supported by Innovate UK grand funding and has invested more than £1.5 million in research and development to produce a range of innovative certified photovoltaic glass products that meet building and planning regulations. Polysolar also reported that it is expanding rapidly, achieving a 400% growth in sales over the past 3 years (£86,000 in 2016 to £407,000 in 2018; profit in 2018 is £68,000).
“Polysolar develops, designs, and project-manages Building Integrated Photovoltaic (BIPV) solutions. We are a world leading Cambridge (UK) based developer and producer of innovative, low-cost, solar photovoltaic glass for the architectural market. Our unique thin-film solar glass is the first truly transparent alternative for conventional architectural materials, generating renewable energy and a return on investment whilst maintaining attractive architectural features.
“We work with clients, architects, surveyors and throughout the industry to provide turnkey and bespoke integrated PV solutions. Our products provide an exceptional finish to a building, enabling environmental targets and planning regulations to be met.”
Funds from the Crowdcube will go towards Polysolar’s next phase of its growth in the micro-renewable energy economy. The campaign is currently set to close at the beginning of July.
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