Mishcon de Reya has advised SolarSub on the completion of its £1.34 million funding round. The round was led by Sustainable Ventures, with participation from Zinc VC, Scottish Enterprise, Old College Capital – the University of Edinburgh’s venture investment fund – SFC Capital and the British Business Bank, alongside support from Innovate UK’s Investor Partnership programme.
SolarSub is a UK solar technology company developing passive cooling solutions for photovoltaic modules. Its technology is designed to keep solar panels closer to their optimal operating temperature without pumps or moving parts, increasing energy generation while reducing heat-related degradation. The company is initially targeting the floating solar market, with plans to expand into wider utility-scale solar applications.
The funding marks an important milestone for SolarSub as it progresses towards commercial-scale deployment. It will support further product development, independent testing and international trials with research, utility and industry partners, alongside the expansion of the company’s engineering capability.
Sebastiaan Schalkwijk, CEO and Co-Founder of SolarSub, said: “I’d like to thank all of our investors and supporters for backing us as we move into the next stage of SolarSub’s development. Our legal team at Mishcon de Reya did a wonderful job in guiding us through to a timely closing.”
Attilio Leccisotti, Partner in Mishcon de Reya’s Emerging Companies team, commented: “SolarSub is addressing a practical challenge for the solar industry: improving energy output and long-term performance by tackling excess heat. This funding is an important step as the team takes its technology into larger-scale trials and works towards commercial deployment. We are so pleased to have supported Sebastiaan, James and the SolarSub team on this transaction and look forward to seeing the company’s continued progress!”