Naked Energy seeks £30M funding to grow its solar business

Naked Energy has opened a new funding round with the aim of raising £30 million. It wants to scale up production of its solar thermal and combined solar thermal and PV products, sold under the brand name ‘Virtu’. It now claims installations underway across the UK, Europe and the US, including projects with IHG Hotels & Resorts and other hotel groups.
Naked Energy’s VirtuPVT collector combines PV and solar heat technology generating electricity and heat up to 75°C . The VirtuHOT collector generates solar heat up to 120°C.
The company said the Series B round will build on recent investments from Barclays, Nesta and ELM companies. It has engaged tPiper Sandler Ltd. to lead the fundraising process.
Christophe Williams, CEO and co-founder of Naked Energy says: “This is a pivotal phase of Naked Energy’s journey and the wider movement to decarbonise heat.
“…It’s a very exciting time to be in renewable heat and we’re looking for the right investors who share our sense of urgency as we scale our operations to decarbonise heat on a global scale and change energy for good.”