Powering a new energy future

Maven Capital Partners

www.mavencp.com

LinkedIn: Maven Capital Partners

Power Roll Ltd

www.powerroll.solar

LinkedIn: Power Roll Ltd

The past is never far from the present at Power Roll.

Just metres from the ultra-precision of its advanced manufacturing factory, a black-and-white still of Murton Colliery and an aerial map of Hawthorn Combined Mine hang in stark juxtaposition.

Shadows and light. Heritage and horizon.

The framed images, though, extend much further than simple soot-streaked nostalgia.

Based on the footprint of the former Hawthorn complex, where hefting miners stirred and huge conveyors whirred, the Murton-based flexible solar film maker is leading a clean dawn from black gold foundations.

“Our mission is to generate clean energy from the sun on any surface, anywhere in the world,” says chief executive Neil Spann.

The vision is amplified by a huge kaleidoscopic graffiti cityscape sweeping across a passing internal wall.

He adds: “We are pioneering game-changing technology; we are the only company in the world doing this.”

The step-change, just like the firm’s base on Jade Business Park, is rooted in East Durham.

When Seaham native, Oxford University physicist and company founder Dr John Topping explored applying the same vacuum coating techniques used to retain freshness inside crisp packets and sandwich wedges to solar modules, it marked not just the genesis of Power Roll but a radical new approach to manufacturing across the photovoltaic sector.

Neil says: “John developed an expertise in roll-to-roll vacuum coating, which uses a high-speed, low-cost manufacturing process.”

“It led him to look at adapting the process to make low-cost solar film.”

“It was a simple – yet brilliant – idea, and backed by our director Ian McLeod and former chair Drew Johnson, it paved the way for us to develop a new way of making solar power affordable and accessible to all.”

That inclusiveness, says Neil, is predicated upon the pliability of its film, the paucity of environmentally damaging materials and the potential of perovskite ink in its technology.

He says: “A standard silicon solar panel is heavy and typically features a sandwich-style design with photoactive material fitted inside electrodes.”

“However, they require a lot of carbon to make and many are produced using the rare earth material indium tin oxide.”

“We’ve turned the traditional solar panel ‘sandwich’ on its side, to form microgrooves that look like a channel.”

“Using processes from the packaging and holographic industry, we create micro-metre-wide solar cells and have entirely eliminated indium tin oxide.”

“We also use perovskite; many companies globally are working on perovskite solar, but we are the only one using microstructures to create perovskite solar cells.”

And the opportunities provided by such innovation, says Neil, are multifarious.

He says: “Our cells are less likely to be affected by dust and bird droppings than standard silicon solar panels because they are smaller and electrically isolated, and our microgrooves perform better at different angles too.”

“Silicon modules are typically angled at around 35 degrees and South East-orientated, but their performance changes markedly when fitted vertically or laid flat.”

“Our microgrooves work across a wider range of angles, opening up the building envelope.”

“Crucially, the sun can also get into the bottom of the groove, which means a single cell can generate energy almost equally on both sides.”

“That bifaciality is completely unique and helps catch light bouncing off the ground too.”

With such a distinctive offer, Neil says Power Roll – which employs about 30 staff – is primed to play a central role in meeting rising global energy needs.

This is particularly true in spaces beyond the large solar farms and commercial rooftops already dominated by Far East manufacturers.

Neil says: “One in four commercial buildings globally, such as factories, schools and hospitals, aren’t suitable for silicon solar because of weight restrictions, roof shapes or partial shading from things like chimneys.”

“That retrofit market represents a really strong opportunity – a study shows it could make up as much as 12 billion square metres of roof space globally.”

“We’re also well placed to add solar film to the side of buildings, and our technology could help replace diesel generators by powering water pumps in the agrivoltaics market.”

“It has great potential to be used on car ports and across off-grid solutions like pop-up solar panel tents too.”

“These could help power refrigeration needs, phone charging and internet use in remote villages.”

To reach such a stage has required time and no little capital.

The firm has raised £35 million from supporters including family office funds, Innovate UK, and Newcastle and Durham-based private equity and venture capital firm Maven Capital Partners.

The latter has provided multi-million-pound support over a number of years through flagship financial vehicles including the Northern Powerhouse Investment Fund II, Business Durham’s Finance Durham Fund and the North East Development Capital Fund.

And with such backing, Neil says Power Roll is ready to unfurl a blueprint focused on creating a distributed manufacturing model from its North East heartland to the seven continents.

Neil says: “Maven has been a really positive supporter, with its capital allowing us to fund research and development, build products and protect our intellectual property.”

“With those foundations, our ambition is to have a North East factory making film for the UK market that will springboard to global plants where partners make and distribute solar film in their chosen geographies.”

He adds: “We are at the next inflection point.”

“We’re coming out of the development stage, getting the film into the world where it belongs and seeing it create the electricity that is needed.”

“The next two years are going to be very exciting.”

Maven Capital Partners

For more information about Maven and its portfolio of business support, visit the website at the top of this article.

The £660 million Northern Powerhouse Investment Fund II covers the North of England.

It provides loans from £25,000 to £2 million, as well as equity investment of up to £5 million, to help a range of small and medium-sized businesses start up, scale up and stay ahead.

The Finance Durham Fund is part of Business Durham’s strategy to deliver economic growth across County Durham.

It provides flexible equity, debt or mezzanine funding packages from £150,000 to £2 million for early-stage and established businesses, investing across all sectors.