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Greenbackers Investment Capital client Power Roll strikes partnership with major Japanese firm

North East solar power innovator Power Roll is set to break into the Japanese market after securing a strategic partnership with one of the country’s leading energy companies.

The Sunderland firm has developed an ultra-thin solar film which can both generate and store electricity, and it can produce green electricity up to 20 times more cheaply than existing flexible solar photovoltaic technologies.

Earlier this year, Greenbackers assisted Power Roll to close £5.8m of investment over two funding rounds, which it will use to drive forward construction of a North East manufacturing plant.

Now the company has announced a strategic partnership with an as yet unnamed Japanese energy firm, which has set out a range of research and development activities to establish the market potential and use cases for solar film in Japan.

“This major Japanese energy company is already demonstrating strong leadership in the effort to achieve net zero carbon, and we’re delighted to partner with such an innovative organisation to help them deliver on those goals,” said Neil Spann, chief executive officer, Power Roll. “The investment relationships introduced by Greenbackers not only provided funding, they are also adding value through their experience in manufacturing and scale-up”  

The firm’s flexible and lightweight solar film will expand the market for solar energy, generating new opportunities across a broad range of applications.

This partnership will see the energy company become a licensee of Power Roll’s technology with the rights to develop, manufacture and sell its solar film in Japan.

CLICK HERE for the full article in BusinessLive

15 April 2021