Just a little over two years after raising more than £1.3 million through its first Crowdcube round, UK cleantech Polysolar returned to the equity crowdfunding platform and has already surpassed and doubled its initial £250,000 funding target.
Polysolar notably makes transparent architectural solar glazing. Now finalizing a distribution agreement with E.ON, the company is planning to lead the electric revolution by transforming building & transport infrastructure into renewable power stations, with the goal to rapidly expand capability in the EV carport sector.
“Buildings and construction account for 39% of global Co2 emissions, and road transport a further 33%. To address this, Polysolar is turning buildings and transport infrastructure into self-generating power stations by substituting conventional construction materials for our high performance solar glazing.”
Polysolar reported that in addition to our existing range of solar BIPV windows, façades & skylight solutions, it has invested in new products and third-party manufacturing capabilities to deliver prefabricated modular structures for ease of installation, and an extensive range of EV charging hub canopy and carport solutions.
“With established customers like Sainsbury’s & Canary Wharf, we’re in the final stages to secure a supply & install agreement with E.ON and have won tenders for EV charging hubs from South Gloucester CC and Lake District National Park Authority.”
Funds from the latest Crowdcube campaign will be used to commercialize what it sees as the immediate and significant opportunity in EV charging solar canopies and carports. Polysolar will be applying to the Future Fund for funding to match the amount raised through Crowdcube. The funding round is set to close at the end of August.
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