Published: Nov 19, 2021
Focus: Finance Durham Fund
A developer of ultra-low-cost and lightweight flexible film for energy generation and storage, Power Roll originally secured investment from the Finance Durham Fund last year to open a new manufacturing facility.
The business has since relocated to Jade Business Park in Seaham to support the construction of a solar film pilot plant. Today’s transaction will enable the business to embark on a programme of growth to support its growing list of UK and international customers as well as invest in the development of the newly opened manufacturing plant in Durham.
Power Roll has developed a unique, flexible, lightweight solar film capable of producing ultra-low-cost green electricity that is up to 10 times cheaper to make than existing flexible solar photovoltaic (PV) technologies. The film is suitable for non-load-bearing rooftops, building integration, transport, portable applications, off-grid projects and IoT sensors, and can also be used for energy storage and to manufacture capacitors.
The solar panel and capacitor markets are large and growing due to the increasing global demand for renewable electricity and electronic devices. The global solar energy market is expected to reach over $220bn in 2026 with the thin flexible solar panel market expected to be worth $10bn by 2023.
The business has an experienced management team which includes, Neil Spann, Managing Director, prior to joining Power Roll was Head of Group Finance at Eaga plc and prior to that trained and worked at Arthur Anderson and Ernst & Young. Dr John Topping, Co-founder and Chief Scientist, is a research scientist, with over 18 years of scientific consulting experience, specialising in coatings, printed electronics and the development of process manufacturing. John has worked on research projects for the MoD, UK Space Agency and Pilkington Glass and was previously a research fellow at Oxford University.