A renewable energy company based in Blyth, Northumberland, has received an investment totalling £200,000.
Solar Capture Technologies is a specialist in the product development, prototyping, testing and manufacture of custom designed solar modules, cells and systems.
Previously known as NAREC Solar, Solar Capture Technologies manufactures specialist products that deliver consistent results, particularly where reliability and safety is paramount. With the ability to produce any size, shape or even colour module to suit a product’s design and specification, the company adds value to products utilising solar technology.
The funding received comes from Northstar Ventures’ Finance for Business North East Proof of Concept Fund alongside an injection from the management team, is being used for working capital and to hire new recruits.
Steve Caseley, Chief Executive, said: “I am delighted to be working with Northstar Ventures in this exciting phase of our development, this is an unusual business in that we are coming from a very credible academic background in Solar Photovoltaic physics and taking this capability into the commercial world.”
Richard Charnley, investment manager at Northstar Ventures, said: “Working alongside Steve for this investment has been a great experience as he is a driven, experienced and enthusiastic owner. The commercial part of the operation is founded on substantial R&D experience and capability, and we are confident that this will continue to open further opportunities in the future. Already, the company has secured some excellent sales including the US Navy and Local Parking Security.”
The Proof of Concept Fund is backed by the European Regional Development Fund and the European Investment Bank.
For more information about Solar Capture Technologies, please visit www.solarcapturetechnologies.com
For more information about Northstar Ventures, please visit www.northstarventures.co.uk