Whitfield Solar, the developer of low cost solar concentrator technology, has announced it has closed an interim funding round of approximately £1 million to enable it to complete its product development, take its solar concentrator through accreditation testing and install a grid-connected demonstration site in Spain.
Existing shareholders Carbon Trust Investments partnered with new shareholder Kilsby Ltd to make the investment.
Whitfield Solar Ltd also announced Stephen Bates will join as CEO, and that it has made a number of new hires to reinforce its board of directors, project management and engineering resources.
Jonathan Bryers, Investment Partner at Carbon Trust Investments, said: “We are delighted at the calibre of the commercial and product development team that is now in place at Whitfield to take their low cost solar concentrator product to market. We believe the market will increasingly focus on cost and simplicity within the solar sector and Whitfield is well placed to exploit this opportunity.”
Stephen Bates, CEO said: “It is with great enthusiasm and excitement that I take up this role. It is rare that one gets the opportunity to join an organisation with such potential and where the proposition is so close to market. Now we have our team in place, I am looking forward to a year of rapid progress, growth and engineering excellence.”
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