Solivus, a UK-based startup that designs and creates solar products for the home and bespoke solar solutions for businesses, has successfully secured more than £670,000 in funding through its equity crowdfunding campaign on Seedrs. The funding round recently made its debut, originally seeking £500,000.
“Our innovative, ultra-lightweight fabric has been designed for the residential and commercial sectors but we want to expand our reach and make it available to many. Our goal is to be pivotal in reducing reliance on non-renewable energy sources and make cost-efficient energy generation and storage through the transition to more energy efficient vehicles powered with renewable energy and trading excess renewable energy to others to create a cleaner environment for everyone.”
The company also revealed that it is using new thin-film solar technology to design products that are opening up vast new markets previously unavailable to traditional solar – both in the UK and internationally. Solivus generates upfront revenue on the installation and financing of each system. There are also potential ongoing revenue streams:
- Operation and Maintenance contracts
- Trading surplus energy – software licensing and share of revenue
- Electric vehicle charging – share of revenue
Funds from the Seedrs campaign will be used to continue the growth and development of the Solivus products. The company is now offering 3.91% in equity at a £16.5 million pre-money valuation through the campaign, which is set to close at the end of January.
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