In an interview with The Currency in January 2022, UrbanVolt’s chief executive Kevin Maughan detailed the company’s business model – owning solar panels on the roofs of business premises and selling them the electricity – and the funding it had raised up to that point: equity from the State-backed Irish Strategic Investment Fund and individual backers including director Stephen Vernon, but more significantly tens of millions in credit lines for debt investors to roll out its solar installations. “I think there will be a continued role for equity to support growth. I’m a believer in using equity to fund the…

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