Solarcentury Completes GBP13.5 Million Financing

September 04, 2007 by Jeff Shepard

Solarcentury Holdings Ltd. ("Solarcentury") announced the completion of a GBP13.5m round of financing to fund its product development and international expansion strategy. The round was led by zouk ventures, a European Cleantech investor, and co-led by Good Energies, a global investor in renewable energy.

Established in 1999, Solarcentury is a provider of a range of proprietary and third party photovoltaic (PV) and solar thermal products to commercial, residential and public sector customers in the United Kingdom and other European countries, focusing on building integrated product solutions. The company maintains a strong network of distributors and installers while successfully working with large building contractors and property developers.

Jeremy Leggett, founder and CEO of Solarcentury, commented, "We are delighted with the commitment from our new investors, who are leading institutions in the solar and clean technology sectors. Their expertise will be a valuable contribution to Solarcentury’s development and growth. This new investment further strengthens our position as a leader in building integrated solar products."

Samer Salty, CEO of zouk ventures, said, "Solarcentury has an impressive track record in the UK solar market and we are excited about the prospect of further European expansion. Favorable market conditions, supportive legislation and early sales successes have signaled that now is the time to push further into international markets. The company’s experienced management team is well positioned to capture the fast growing building integrated solar opportunity and we look forward to working with them."

"With this investment round Solarcentury will take the next steps towards European expansion. We are a proud investor in one of the future leaders in the downstream solar PV business in Europe", Sven Hansen, Chief Investment Officer of Good Energies said.