Cleantech company smashes crowdfunding window
The company smashed its original target of £750,000, raising £893,000 with nine days still to go on the clock.
The company, which makes windows that generate electricity, was established in 2007 by chief executive Hamish Watson for the development of next generation photovoltaic materials.
Its vision is to turn buildings into power stations, with windows that generate clean renewable energy.
Supported by Innovate UK grant funding, and with over 400 per cent sales growth in three years, the business has invested more than £1.5m in R&D to produce a range of photovoltaic glass products that meet building and planning regulations.
To support its growth, Polysolar launched a pitch on Crowdcube seeking £750,000 in return for 8.58 per cent of equity in the business.
The company managed to raise the first £400,000 in its first three days on the crowdfunding site, which it has now more than doubled with nine days still to go.
“We are delighted to announce that we have now exceeded our funding target with over a week left on our crowdfunding campaign,” reads a statement on the company’s website.
“A huge thank you to all of our current investors, and we look forward to connecting with you all once the round has closed. There is still some time left on the clock, so if you are interested in investing in Polysolar, you can find out more at https://www.crowdcube.com/companies/polysolar-ltd/pitches/lxeWxZ.”