Naked Energy will use the investment to establish an automated manufacturing facility in the UK for its solar thermal technology.
Great British Energy has led an £8.875 million investment round to fund this new facility, contributing £7.5 million through its £1 billion Energy Engineered in the UK programme. This marks the company’s first investment in the UK solar supply chain.
Barclays Climate Ventures also participated as an existing shareholder, helping to close a £27 million Series B financing round.
Naked Energy’s new facility will manufacture its ‘Virtu’ technology, which uses modular solar collectors to heat water up to 120°C. The company states that this technology saves three times more carbon per square metre than standard solar photovoltaic panels.
Naked Energy also offers a solution that combines solar heat generation with rooftop photovoltaics. Its hybrid system, which generates both heat and electricity, has already been installed in 950 units at the British Library.
Great British Energy plans to collaborate with Naked Energy to explore deploying this hardware across public sector buildings, including financing models to spread the upfront installation costs.
The location of the Crawley-headquartered company’s new manufacturing facility has not yet been confirmed, but it is expected to create 40 direct and 100 indirect jobs.
Energy secretary Miatta Fahnbulleh commented, “Homegrown, clean power is an opportunity to reindustrialise Britain as we’re backing UK supply chains to help deliver the energy transition. Great British Energy is supporting well-paid manufacturing jobs for communities, while providing cheaper and secure energy for households and businesses.”
.svg)
