What does Solivus do?
Solivus provides engineering design, installs, monitors and maintains solar that is lightweight, aesthetically pleasing and wherever possible avoids roof penetration.
How has partnering with London & Partners helped you?
Under the London & Partners business growth programme, Solivus was invited to join a trade mission to SLUSH, a leading event held in Finland each year connecting startups with venture capital firms. As Solivus is looking to raise a Series A round, the trip to SLUSH proved extremely useful in generating leads for global institutional investors and clients looking to support Solivus with its mission to decarbonise the built environment.
Why is London a great place to set up and grow a sustainable business?
London, as the world's green hub and climate tech powerhouse, holds an abundance of business accelerator and investment programs aimed towards companies such as Solivus. The fact that Solivus is an Enterprise Investment Scheme (EIS) company has been an enormous help. The government’s Enterprise Investment Scheme is fantastic support for new innovative technology companies in the UK. We cannot stress enough how beneficial EIS status has been for Solivus.
What steps are you taking to become a greener business?
Solivus has been working with Northampton Saints Rugby club to turn previously unusable roof space into a solar energy asset by installing a lightweight solar system. As a result, Solivus has been recommended for a second stadium. Meanwhile, the company recently completed phase one of a project that will help Cotswold Airport become carbon neutral by 2050.
How has your company grown in the last couple of years?
In 2022, Solivus grew its revenue base. Scaling two business models (commercial and consumer) side by side is ambitious for any high-growth startup, but we can now reveal that our average deal value for a rooftop solar solution is £750,000 and we have generated strong pre-orders for the Solivus Arc. For 2023, Solivus is on target to secure £10m worth of rooftop installations.
Does your presence in London help your company progress faster?
Last year, London was announced as Europe's climate tech powerhouse, with it being one of the most promising in the world right now. Solivus is right in the sweet spot of this trend. In a recent report by London & Partners, the total value of climate tech startups in the UK has almost tripled year-on-year to accumulate $28bn. Across the globe, this growth is being driven significantly by investment into energy solutions and transportation, accounting for a combined 78% of global climate tech investment last year.
What are some challenges for your business in the sustainability field?
The company’s long-awaited Solivus Arc product for the residential sector is not yet rolling off the production line as we had planned due to a design adjustment that was needed. The company now has an enhanced Solivus Arc shape to optimise generation and plan to have the first units in various global locations for final testing early this year before the first batch is rolled out to customers.
In your opinion, what is London doing well in the sustainability field?
- All buses are now at either compliance or better than compliance levels for emissions.
- There are now more cycling routes than ever.
- Wide adoption of zero emission personal transport vehicles (Santander bicycles, Lime, Forest and electric scooters).
- Pedal powered delivery vehicles.
- Despite London making up just 13% of the UK population, it is home to 22% of the UK’s vegans.