With its equity crowdfunding campaign on Crowdcube set to close next Friday, UK-based cleantech Polysolar is now nearing £1 million thanks to more than 1140 investors.
As previously reported, Polysolar was established in 2007 and has developed, along with commercialized, transparent photovoltaic glass technology. Polysolar is notably 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. The company also reported 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.”
The Crowdcube round was launched earlier this month and quickly raised its initial £700,000 funding target. The funds from the campaign will be used for the next phase of Polysolar growth in the micro-renewable energy economy.
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