UK-based Power Roll has secured GBP 2.8 million (USD 3.6m/EUR 3.1m) in equity and debt for the commercialisation of its lightweight flexible solar film for energy generation and storage.
The company has raised GBP 2 million in equity and secured GBP 0.8 million in convertible loans as part of the UK government's Future Fund scheme.
The funds will be used for the construction of a pilot solar film plant in County Durham, the further improvement of cell efficiency of the solar film and commercialisation of Power Roll's capacitor technology with partner Deki Electronics.
Power Roll's solar film is expected to have a projected manufacture cost of just USD 0.03 (EUR 0.025)/Watt at scale, delivering the lowest levelised cost of electricity for any solar technology, according to the company.
Power Roll is pursuing an IP licensing model with manufacturing partners to step up deployment of its technology.