ENVESTORS are delighted to announce that we have successfully facilitated SOLARIS PHOTONICS to close its funding round of c. £600,000. The funds raised will be used:
- To test the prototype Solaris Photonics Multiplier (SPM)
- To fund the Innovate UK Alkaline Photovoltaic (APV) project
- To cover a wide range of patents
Niall Haughian, Chief Operating Officer, SOLARIS PHOTONICS“The first half of 2017 has been tremendously exciting for Solaris, with substantial technical and commercial progress transforming the Company. With the seed fundraising completed, Solaris’ team is looking forward to focusing on the core product development for the remainder of the year”.
Scott Haughton, Director, ENVESTORS “We are pleased to announce that the company has successfully raised funds necessary for its innovative technology to progress to a next stage of testing its prototype. Now Solaris is equipped with 23 new experienced investors and strong board, which is ready to take the company to commercialisation”.
Solaris Photonics Ltd is a high-tech company established by Dr Arnaldo Galbiati to commercialise upon advanced power generation technologies. Solaris’ core products, the Solaris Photonics Multiplier (SPM) and Alkaline Photovoltaic (APV), are highly innovative and set us aside from other solar energy companies. The goal of Solaris Photonics is to cross-sell the SPM and APV technologies as they are complementary.
The Company has on-going partnerships and university collaborators and is expected to generate revenues for its solutions in 2018. This is accompanied by a healthy pipeline in early-stage partnerships and active discussions with both solar energy producers and thin film solar cell manufacturers.
The SPM is a power electronics device which can be retrofitted to solar panels to quadruple their power output. The SPM will be sold directly to solar farm owners, with the bulk of SOLARIS’ sales made through revenue share of the excess power generated by the farm.
The APV is a highly versatile photovoltaic cell, which can transform any surface into a solar panel without affecting its transmission properties. An invisible photovoltaic coating could be applied to a smartphone and extend its battery life to power it on the go, even in poor light conditions such as office space. A key USP is the APV’s low cost, expected to be just 13 cents per Watt compared to the market-leading competitor of 40 c/W. SOLARIS intends to license the technology directly to existing solar PV manufacturers for both utility and consumer applications.