Innovative Solar Solution for Lorries
Sunswap, a pioneering Surrey-based startup, has successfully raised £17 million to develop solar panels for diesel lorries, aiming to replace traditional diesel-powered refrigeration units. This funding, contributed by investors including the Business Growth Fund (BGF) and Shell, will support the replacement of 55,000 diesel refrigeration units on Britain’s roads, which are notably responsible for significant CO2 emissions.
Environmental Impact and Operational Efficiency
Refrigeration units on vehicles, especially those hauling food and medicine, contribute approximately 10 tonnes of CO2 per vehicle annually, accounting for up to 20% of total vehicle emissions. Sunswap’s technology, which utilizes the extensive surface area of lorry trailers for solar panel installation, offers a viable solution to fully power refrigeration units under optimal conditions, significantly reducing carbon emissions.
Trials and Technological Advancements
Sunswap has already initiated trials of its technology with major clients like Tesco. The design leverages the larger surface area available on lorries compared to cars, making solar power a more practical source of energy for these heavy-duty vehicles. According to Mike Lowe, CEO of Sunswap, the synergy between solar power and refrigeration needs is perfect as increased sunlight, which escalates refrigeration demands, simultaneously boosts solar energy production.
Financial Viability and Market Potential
The units are designed to be cost-effective, with an investment return period of four to six years and a lifespan of about 10 years. This financial model is appealing to companies committed to decarbonizing their fleets. With new diesel lorries facing a sales ban by 2040, Sunswap’s solutions are well-positioned to meet ongoing demand, even as the industry shifts towards electric vehicles. The solar refrigeration units can operate independently of the lorry’s main battery, thus preserving the vehicle’s driving range.
Founding and Funding Insights
Founded by Mike Lowe and colleagues from the defunct engine manufacturer Dearman, Sunswap has grown to serve significant clients like shipping giant DFDS. The recent funding round was led by BGF and supported by other notable investors such as Shell’s venture arm, Barclays, Dutch venture capital fund Move Energy, and the Clean Growth Fund.
Source: telegraph.co.uk
