Kernel Capital leads investment in SolarPrint

Kernel contributed €500,000 of the syndicated investment through the Bank of Ireland Seed and Early Stage Equity Fund, with the remainder provided by private investors. The business is also backed by Enterprise Ireland.

Launched in 2009, Bank of Ireland Seed and Early Stage Equity Fund is a €32m fund that invests in early-stage companies, with a focus on export-oriented firms that operate in the technology, food and financial services sectors. It also supports patent and patent-pending projects from Irish universities. Managed by Kernel, the fund is backed by Bank of Ireland, Enterprise Ireland, University of Limerick Foundation and NUI Galway.

Kernel has more than €196m under management in six separate venture capital funds.

Company
SolarPrint develops Dye Sensitised Solar Cells (DSSC), a printable photovoltaic technology which converts light from any source into energy. The SolarPrint technology platform provides an autonomous power source for intelligent wireless devices. Its first target market is powering wireless devices for building energy management.

Founded in 2008 and based in Sandyford near Dublin, SolarPrint has 17 full time employees.

People
Dr Daniel McCaughan is CTO at Kernel. Dr Mazhar Bari, Andre Fernon and Roy Horgan are co-founders of SolarPrint. Rory Timlin is the general manager at SolarPrint. Donal Duffy represented Bank of Ireland.

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