Sunswap, a Leatherhead-based clean tech startup, has secured £17.3 million in funding to advance its mission to decarbonise cold chain logistics through innovative refrigeration systems that utilise solar and battery energy. Founded by Michael Lowe, Sunswap has developed an Endurance unit for articulated lorries, which integrates solar panels and a cloud-based telematics system for real-time monitoring. The company has successfully completed commercial trials with Tesco and Müller, evidencing its technology’s superior performance and lower total cost of ownership compared to traditional diesel units. The investment round was led by BGF and included participation from Shell Ventures, Move Energy, Barclays, and Clean Growth Fund. The newly secured funds will be used to scale production, expand the service network, and further technological development across the UK and Europe. Sunswap CEO Lowe emphasised this funding’s critical role in expanding their market presence and contributing to more sustainable cold chain logistics.
Clean Technology, Logistics and Transportation, Venture Capital,United Kingdom, Europe