Solivus, a UK-based startup that designs and creates solar products for the home and bespoke solar solutions for businesses, has secured more than £840,000 through its equity crowdfunding campaign on Seedrs. The funding round, which quickly secured its initial £500,000, has attracted nearly 650 Seedrs investors.
As previously reported, Solivus’ mission is to allow mega-buildings, homes, and communities to lower their carbon footprint and generate their own local green energy through our family of solar solutions.
“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 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. The campaign is set to close in mid-January.
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