Ponteland-based manufacturer, Natural Technology Development (NTD), has secured a new round of funding to help design, develop and manufacture its hybrid Solar PV-T panel.
NTD secured a total of £180,000 from Northstar Ventures’ Finance For Business North East Proof of Concept Fund and a private investor, to help design, develop and manufacture the new module. The company hopes that the latest round of funding will mark the product’s final steps into the market.
The new module, which was designed and developed in the UK, combines solar PV and thermal technologies. The company claims that the module’s unique cooling system helps the panel to generate more electricity than traditional PV on its own.
NTD’s managing director Paul Laidler, stated: “We have overcome many problems facing competitors who are trying to produce similar hybrid technologies by creating a lighter-weight, more compact design that is higher performing and easier to install.
“Once certified, Solar Angel will better match the growing clean-tech demands of the UK and international markets. It is the slimmest profile PV-T currently being tested and it can be fully integrated with other natural technologies such as wind turbines and heat pumps.”
The hybrid panel is currently undergoing a number of laboratory tests prior to final certification. NTD hopes to be fully MCS and Solar Keymark certified by January 2014.
The company will set on its second stage investment fund raising ahead of Solar Angel’s launch in March 2014.