Solar power firm PulsiV Solar, a spinout of Plymouth University, has secured £500,000 ($765,000) in a round backed by commercialisation firm Frontier IP.
The round values the UK-based spinout at £5m, with Frontier’s 18.9% stake now worth £870,000.
PulsiV is developing technology which it says boosts the energy efficiency of photovoltaic solar panels.
Neil Crabb, CEO of Frontier IP, said: “The technology being developed by our portfolio company PulsiV Solar, has the potential to drive significant gains in the energy efficiency of solar panels and other photovoltaic systems. We have been delighted to assist with the Company’s first funding round and will continue to deploy our energy sector experience to take this ground-breaking technology to market.”
