Kent-based Sunstone Systems has raised £1m in equity finance for its solar-powered surveillance systems that can be used in remote places.
The company has created a solar-powered CCTV system capable of working in “extreme environments”, such as oil and gas fields, mining sites and on highways. The internet of things (IoT) devices can function in temperatures ranging from -50°C to +80°C, the company claims.
Customers of the solar tech maker include Rivian Automotive, WJ Group, Mitie and Johnson Controls.
The latest investment brings Sunstone Systems’ total funding raised to £2.3m.
Aaron David, CFO of Sunstone Systems, said: “The need to have power to critical and remote locations without the reliance on fossil fuels is growing more acute by the day. It’s why we see this latest fundraise as just the start of another period of exceptional growth.”
A Sunstone Systems spokesperson told UKTN that the company has “plenty of working capital”. As such, the additional £1m will be used for expansion plans to enter new markets in Europe and the US.
It currently has deployments in Munich but is planning further projects in Germany. Across the Atlantic, it is registered on the US General Services Administration portal and has “representation based in Florida”.
Sunstone Systems will also use the new funding to develop new products. The spokesperson added the company will announce a product launch in the “coming weeks”.
Sunstone Systems hired ex-managing director of JP Morgan Tony Best as its non-executive director in January.
David added: “The UK has an extremely ambitious net zero programme, and we want to play a key part in making it happen.
“For us, this means developing world-leading, renewable energy-powered equipment to help industrial operations take simple steps to reduce their carbon footprint in their day-to-day activities.”
Earlier this year energy startup Solivus land £2.4m for its solar panels that can be installed on commercial rooftops.