Naked Energy, a solar thermal solutions provider, has secured a combined £8.9 million (~$12 million) investment from Great British Energy and Barclays Climate Ventures to establish a manufacturing facility in the U.K.

Great British Energy is investing £7.5 million (~$10.13 million) through its Energy Engineered in the U.K. program. Barclays Climate Ventures, an existing Naked Energy shareholder, is also participating in the funding round.

The company develops renewable heat technology, including its Virtu solar thermal systems, which generate heat and electricity from a single rooftop installation at the point of use and are designed to reduce gas demand without straining the electricity grid.

Naked Energy identified hotels, leisure centers, hospitals, care homes, manufacturing facilities, residential developments, and public buildings among potential applications.

Dan McGrail, CEO at Great British Energy, said, “Cutting our reliance on gas is one of the biggest challenges we face, both for energy security and for keeping bills down. Naked Energy has developed a technology that tackles this head-on, and when you see it working at iconic U.K. institutions like the British Library and Wimbledon, you understand what is possible. At Great British Energy, we are backing U.K. innovators like Naked Energy and helping to create skilled jobs. Through our Energy Engineered in the U.K. program, we are helping them to manufacture here at home and go further, faster.

In 2024, the company secured £17 million (~$22.1 million) in a Series B funding round led by E.ON Energy Infrastructure Solutions, a provider of integrated, sustainable energy solutions for cities and industries. The series was supported by co-investment from existing investor Barclays through its Sustainable Impact Capital.

In 1H 2026, VC funding activity in the solar sector decreased 40% YoY to $1.5 billion, down from $2.5 billion in the first half of 2025. Deal activity increased 9% YoY with 35 deals in the first half of 2026 compared to 32 in 1H 2025, as per the recently released Mercom’s 1H and Q2 2026 Solar Funding and M&A Report.