Solarfix, a solar panel design and installation startup, has secured a €1.8 million funding package from Whiterock to drive its growth across the UK and Ireland. The investment will enable Solarfix to expand its offerings, reduce energy costs for domestic and commercial customers, and contribute to lowering carbon emissions.
The funding includes equity investment from Whiterock’s Growth Capital Fund and debt finance from the Investment Fund for Northern Ireland. This follows a management buy-out led by Michael O’Donnell, Solarfix’s Managing Director, and aims to support the company’s development of turnkey green energy solutions for homes and businesses.
Michael O’Donnell, Managing Director of Solarfix, commented: “We are very appreciative of our existing clients, who have been highly supportive of our business, helping us to drive growth naturally and leading us into new markets. […] Over the next 10 years our vision is to see Solarfix become a leader in sustainable energy solutions across the UK and Ireland. We have already experienced significant growth within our team, and we are actively recruiting to meet demand. With nearly 20mw of solar panels installed on sites ranging in size from 4kw to 1,000kw and including flagship projects such as Royal Portrush Golf Club, Solarfix systems now form an important part of NI’s energy infrastructure. We are seeing more commercial opportunities as businesses look to meet Co2 emissions targets and save on their energy costs.”
Since its inception, Solarfix has installed over 2,000 systems across Northern Ireland, generating more than 16 million units of low-cost electricity annually and saving over 4,000 tonnes of carbon emissions each year. According to Solarfix, a typical Solarfix system offers cleaner and more affordable electricity compared to grid power, with installations paying for themselves in under five years. The company’s solar panels are guaranteed for 25 years, providing long-term value to its customers.
Solarfix has a diverse portfolio, serving domestic, commercial, and agricultural markets. Its solutions include advanced energy-saving options such as Duracell Energy batteries for power storage, Solaredge Optimised systems for high-risk or shaded buildings, and MyEnergi EV chargers and Eddi systems that divert solar power to electric vehicles or heating water. Notable projects include installations at Royal Portrush Golf Club and sites ranging from 4kW to 1,000kW systems.
Chris Trotter, Investment Director at Whiterock, expressed confidence in Solarfix’s growth potential: “We are pleased to partner with Solarfix as they make further investments in their products and markets. With energy costs and sustainability being a key concern among customers and businesses we are delighted that our £1.5m investment will drive green energy adoption in the UK and Ireland. Solarfix has led the way in Northern Ireland with their customer-first approach and we look forward to supporting them as they continue an upward trajectory in sales and installs.”
Read the orginal article: https://www.eu-startups.com/2024/12/belfast-based-solarfix-secures-e1-8-million-to-expand-solar-energy-solutions/
