Naked Energy, the UK firm behind hybrid solar technology that generates both heat and power has won a £5.25m cash boost from its financial backers. The firm says its technology, known as ‘Virtu’, is more efficient than traditional solar PV panels as it generates both heat and electricity. It claims peak efficiency can hit 80 per cent, converting 20 per cent of the sun’s energy to electricity and 60 per cent to heat, while only needing half the space of conventional PV panels.
Business Green 26th Nov 2019 read more »
Naked Energy has raised £5.2 million of funding in its latest round, with environmental fund manager Earthworm Group leading the round with a co-investment from Taqa Holdings. Other new investors included Ethical Fin, Fonte Capital, Green Angel Syndicate and Syndicate Room. The company will use the funding to further develop and grow its Virtu technology. The hybrid solar technology has a peak efficiency of 80%, Naked Energy said, with 20% converted into electricity and 60% used for heat.
Solar Power Portal 26th Nov 2019 read more »