Build & Sustainability
Seaham solar film maker ‘will power on’ after £1 million support
July 10, 2023
A County Durham solar film maker says it is energised to make further market progress following £1 million support.
Power Roll has been backed by Maven Capital Partners.
The Seaham-based company says the cash will help commercialise production of its solar film – which is used on non-load-bearing rooftops and transport – to a global scale.
Its finance deal included two investments from Maven-managed regional funds, with £750,000 from the North East Development Capital Fund complemented by £250,000 from the Finance Durham Fund, which is overseen by Business Durham on behalf of Durham County Council.
Neil Spann, Power Roll managing director, said: “Our mission is to revolutionise solar energy by powering a global rooftop revolution from County Durham.
“The need for low-cost clean energy has never been greater, and our solar film has the potential to generate solar energy from the billions of square metres of rooftops where the heavy and rigid silicon panels manufactured in China cannot be deployed.
“Maven shares our vision for the future, and we are grateful for this further investment.”
Michael Dickens, Maven investment manager, said: “With green energy more important than ever, Power Roll looks set to drive innovation and produce next generation solar solutions to assist with the transition towards a more sustainable electrical generation system.”
Councillor James Rowlandson, Durham County Council’s portfolio holder for resources, investment and assets, added: “With this additional investment, we are confident Power Roll will continue to thrive in County Durham and contribute to the global transition towards net-zero.
“We are excited to see the positive impact this investment will have on both the local economy and the environment.”