Solar investment

UK-based Enecsys has received $10m (£6m) worth of funding in an investment round led by pan-European venture capital specialist Wellington Partners.

Wellington was joined in the investment by BankInvest New Energy Solutions, a venture capital fund located in Copenhagen.

Spun out from the University of Cambridge, Enecsys has developed micro-inverters that can be deployed in harsh external environments next to solar photovoltaic (PV) modules.

The patented design of the inverters eliminates low-lifetime components such as electrolytic capacitors, providing inverter lifetimes equivalent to PV modules or greater than 20 years.

Such Enecsys-enabled solar systems are claimed to be able to harvest more energy at a lower cost, resulting in savings of up to 25 per cent over conventional systems. They can also operate in extreme temperatures between -40C to +85C.

The company will use the investment to accelerate commercialisation of its technology and to intensify its marketing activities.