Last week’s winning campaign was an innovative operator from the solar energy space. The Solar Cloth Company manufactures flexible and lightweight solar panels that may be positioned upon a range of previously unsuitable structures. The fundraise is being hosted by Crowdcube – the UK’s largest equity platform in terms of cumulative volume.
For many years now the importance of finding renewable solutions for the planet's ever increasing demand for energy has been well understood. Recent environmental trends seem to indicate a high level of urgency to find these answers and therefore increasing amounts of research and funding goes into the sector. Initially most solutions such as wind-turbines and solar-panels were unrefined and designed to retrofit into existing scenarios meaning that they were inefficient and costly, making the case for installation in most locations financially unfeasible. Today however, the technologies have been fine tuned for increased efficiency while cities are planned around their energy demands and architects design buildings to at least be efficient if not playing a positive part in the energy ecosystem. For solar-panel manufacturer The Solar Cloth Company this has led to an opportunity.
The first generations of photo-voltaic cells capable of significant levels of power from an allocated area were very heavy, meaning that only a small portion of rooftops would be able to support them. Add to that the restriction of needing to accurately face the direction of the sun to offset their outlay and very few spaces are actually viable for installation. The Solar Cloth Company's product uses thin-film technologies to deliver a far lighter panel that can be placed across non-load bearing roofs which is priced to quickly pay off its initial outlay. It's the sort of innovation many property developers have been waiting for and that existing owners have needed in order to make the step toward renewable energy.
The only that question remains is the size of the market. Thin-film photo-voltaic cells are not as efficient as their heavier multijunction counterparts nor are they as cheap or light as the emerging organic technologies could be. And then there are wonder-molecules like graphene that threaten to turn what is currently thought of as the norm on its head – one day. Every product has its time, and now is the time for The Solar Cloth Company, They just need to roll as many panels out as they can until their time is up.
Target raise: £750,000
Amount raised so far: £825,450
Equity offered (for original amount): 10%
Days left: 7
Tax relief: EIS