- Naked Energy secures £17m funding boost for renewable heat vision
- UK-based Naked Energy secures £17m in new equity for global expansion
- Funding led by E.ON Energy Infrastructure Solutions and Barclays
- Naked Energy’s solar system generates power and heat, reducing CO2 emissions
- Investment to support ‘heat-as-a-service’ model for renewable heat deployment
Naked Energy Secures £17m Funding Boost for Renewable Heat Vision
In the realm of renewable energy, Naked Energy, a UK-based solar heat and power technology firm, has recently made waves by securing a substantial £17 million in new equity funding. This financial injection is part of a Series funding round aimed at propelling the company’s global expansion efforts. The funding round was spearheaded by E.ON Energy Infrastructure Solutions (E.ON EIS) and also saw participation from Barclays through its Sustainable Impact Capital arm, underlining the confidence in Naked Energy’s growth trajectory.
Expanding Renewable Heat Solutions Globally
Naked Energy’s innovative approach to renewable energy involves the development and installation of its Virtu product range in over 20 countries. This includes collaborations with prominent industrial and commercial clients such as IHG Hotels & Resorts and Mandarin Oriental Hyde Park, London. The company’s solar system is unique in its ability to generate both power and heat, offering a hybrid technology that boasts up to four times more effectiveness in reducing CO2 emissions compared to traditional solar PV panels.
The recent investment from E.ON EIS marks a significant milestone for Naked Energy, as it sets the stage for a strategic partnership that will see the Virtu solution offered through a ‘heat-as-a-service’ model to E.ON’s extensive global client base. This innovative model allows businesses to adopt the technology without any upfront costs, paving the way for widespread adoption of renewable heat solutions across various industries and geographies.
Related Video
Driving Decarbonization of Heat
Christophe Williams, CEO of Naked Energy, emphasized the importance of decarbonizing heat, considering that heating accounts for over half of the energy consumed worldwide. With the demand for renewable heat on the rise, the company is dedicated to supporting commercial and industrial sectors in transitioning away from fossil fuels like natural gas. The investment from industry giants like E.ON and Barclays underscores the economic potential of heat decarbonization and signals a collective effort to drive sustainable energy practices.
Daniel Joisten, head of innovation commercialization at E.ON EIS, highlighted the rapid progression of the partnership with Naked Energy, from initial assessments to strategic collaborations aimed at helping industries like food and beverage and hospitality decarbonize their operations profitably. The distinctive value propositions of Naked Energy’s solutions position them as key enablers in the transition towards a greener energy landscape.
Global Growth and Technological Advancements
In line with its expansion plans, Naked Energy recently announced a manufacturing partnership in Texas with US distribution partner ELM Solar, complementing its existing manufacturing facilities in the UK and Europe. This move signifies a strategic push towards scaling up production and enhancing accessibility to its innovative technology in key markets. The company’s commitment to advancing renewable heat solutions is further underscored by its continuous efforts to deploy cutting-edge technologies that address the challenges of decarbonization.
Gavin Chapman, co-head of principal investments at Barclays, emphasized the importance of scaling up innovative technologies to achieve net-zero emissions targets, particularly in sectors that are traditionally difficult to decarbonize. The partnership between Naked Energy and E.ON is poised to accelerate the deployment of renewable heat solutions, driving impactful change in the energy landscape and contributing to the collective efforts towards a sustainable future.
Links to additional Resources: