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Edinburgh graduate-founded solar technology company SolarSub has secured £1.34 million to develop and commercialise its passive cooling technology for solar panels.
The UK start-up will use the funding to accelerate technical development, testing and commercial deployment of a system designed to keep photovoltaic panels cooler during operation.
SolarSub’s technology contains no pumps or moving parts and is designed to keep panels closer to their optimal operating temperature, increasing energy output and reducing heat-related degradation.
The funding round was led by Sustainable Ventures, with investment from Zinc VC, Scottish Enterprise, Old College Capital, SFC Capital and the British Business Bank. Additional support came through Innovate UK’s Investor Partnership programme.
SolarSub’s founders are engineering graduates of the University of Edinburgh, with the company’s technology originating from research carried out at the university.
Early trials have recorded energy gains of up to 17.5% at the University of Edinburgh’s FloWave ocean energy research facility.
Outdoor testing at Heriot-Watt University’s Dubai campus recorded peak improvements of up to 19%.
The new investment will fund further product development, independent testing and real-world deployments with research, utility and industrial partners.
SolarSub also plans to expand its engineering team and prepare the technology for manufacture, certification and commercial rollout.
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Sebastiaan Schalkwijk, CEO and co-founder of SolarSub said: “I’d like to thank all of our investors and supporters for backing us as we move into the next stage of SolarSub’s development.
“It’s been great to see the technology progress from the early days of research at the University of Edinburgh to the point where we’re now preparing for larger-scale trials and commercial deployment.”
James Taylor, co-founder and chief operating officer of SolarSub said: “I am immensely proud of the team in getting to this point.
“This investment allows us to move from successful technical validation into the next stage of real-world deployment.
“Our focus will now shift to demonstrating the technology at increasing scale and building out our commercial adoption with industry partners.”
Joshua Armistead-Wood, investor at Sustainable Ventures said: “The challenge of energy generation is one that, unsurprisingly, remains at the top of our agenda, particularly at a time of increasing price volatility.
“The solution the SolarSub team is developing stood out to us because, instead of trying to reinvent the wheel, they are focused on one simple root of inefficiency within existing solar systems: excess heat.
“We have been impressed by what the team has achieved to date and are excited to work with them as they deliver the next stage.”
Derek Shaw, director of company funding and investment at Scottish Enterprise said: “Our investment in SolarSub Ltd underscores our commitment to creating an internationally competitive energy transition industry in Scotland.
“By supporting ambitious companies in areas such as clean energy technology, we can help them drive innovation and capitalise on the significant economic opportunities linked to the shift from the production and consumption of fossil fuels to sources of renewable energy.”
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