Naked Energy secures GBP 17 million in new capital – SPE

Naked energy has secured GBP 17 million in new capital. E.ON Group’s E.ON Energy Infrastructure Solutions (EIS) led the Series B financing round, with Barclays co-investing through its Sustainable Impact Capital Programme. They expect to reach financial close before the end of September.

Naked Energy said the funding round “will boost global expansion and the adoption of breakthrough heat decarbonization solutions… The investment strongly supports Naked Energy’s growth plans, allowing the company to accelerate the international distribution of its award-winning solar thermal and energy technology with the adoption of innovative new business models.”

Naked Energy’s Virtu solar collectors have a modular design and offer the world’s highest energy density solar technology, proven to be up to four times more effective at offsetting CO2 emissions than conventional solar panels. The product range includes a PVT system with a vacuum tube configuration, revealed last year. Following the latest investment, E.ON EIS will gain access to the Virtu product range for its commercial and industrial customers.

“It is clear that both E.ON and Barclays share our sense of urgency to decarbonise the heat,” said Christophe Williams, CEO of Naked Energy. “Heating consumes more than half of all energy consumed globally, and as demand for renewable heat continues to rise, we are more committed than ever to supporting the commercial and industrial sectors in their transition away from natural gas.”

In October 2023, Naked Energy signed a strategic partnership with E.ON Group. The two companies said they are now working on a pipeline of projects in multiple areas.

“Investing in Naked Energy has been a great decision for E.ON,” said Daniel Joisten, head of innovation commercialization at E.ON Energy Infrastructure Solutions. “Naked Energy’s solutions have distinctive and compelling value propositions. We will use them to help our customers, in sectors such as food and drink and hospitality, profitably decarbonise their businesses.”