UrbanVolt, a Dublin, Ireland-based Solar-as-a-Service market company, raised £22.3M in funding.
Verdane made the investment.
The company intends to use the funds to facilitate its UK and European expansion.
Founded in Dublin in 2015 by Kevin Maughan (CEO), Declan Barrett (Chief Commercial Officer) and Graham Deane (Chief Operating Officer), UrbanVolt helps business customers make a cost-effective transition to clean energy with their ‘Solar-as-a-Service’ business model, which eliminates the need for businesses to invest upfront capital expenditure in a solar installation. Its model involves financing, installing, and maintaining solar panels for customers, enabling the customer to purchase solar-generated electricity at discounts compared to grid-based electricity providers’ rates. UrbanVolt’s solution allows businesses to lock in their electricity rate for up to 30 years, safeguarding customers against volatile energy costs and guaranteeing a stable supply of electricity for decades to come.
UrbanVolt has operations in Ireland, the UK and eight continental European markets. The company already has 150 customers including Heineken, Pfizer, Zimmer Biomet and Syncreon.
FinSMEs
31/08/2023