A €6.3 million seed round has been launched by UK solar subscription service Sunsave, which aims to enable solar power for every household in the country.
The largest impact venture capital fund in Europe, Norrsken VC (Northvolt, Olio, 1KOMMA5), led the seed round along with prior investors IPGL (Elvie, Klarna), Plug and Play (PayPal, Dropbox), and angel investors Stuart Rose (Asda Chairman), Michael Spencer (Founder of Nex Group/ICAP), Roland Rudd (Founder of Finsbury), and well-known industry figure Bill Nussey (Author of “Freeing Energy”), as reported by eu-startups.
Alick Dru, co-founder at Sunsave, said: “We’re demonstrating to UK consumers that being green doesn’t have to be a choice between doing what’s right for the environment or doing what’s best for your pocket. With Sunsave’s solar subscription you can go green and save money immediately. With energy prices expected to remain elevated for the foreseeable future, this is more important than ever.”
The money is being used for expanding the Sunsave team with seasoned professionals from the power and private finance industries, as well as for product development—commercializing the solar subscription model and developing products that enable further savings to be produced by demand flexibility.
Ben Graves, co-founder at Sunsave, added: “We have an enormous ambition to help the country get to net zero through revolutionising green finance and making the power of solar accessible to all UK households. This significant investment round, combined with our recent FCA approval, provide a strong platform for our mission.”
Through the mass market introduction of solar energy and battery storage in the UK, Sunsave aims to empower homeowners to take charge of their energy costs and expedite the transition to net zero energy.