Funding Circle co-founder joins Rainbow Energy Solar
Funding Circle co-founder Andrew Mullinger is set to become chief executive of London-based solar energy start-up, Rainbow Energy Solar.
The firm will announce the appointment this week, according to Sky News. Mullinger will be tasked with spearheading Rainbow Energy’s expansion, working alongside its co-founders, Stefan Cooksammy and Neil Cockerill.
The company has already raised just under £1.5m in seed funding, and Mullinger will work on a rapid expansion of its operations during a period when unpredictable wholesale energy prices have fuelled inflationary pressures across the economy, Sky News said.
Rainbow Energy is expected to seek more capital as this expansion takes place and it promises to bring down the cost of renewable power for households and small businesses.
“The climate crisis is undeniably the most pressing issue of our time,” Mullinger was cited as saying the report. “The widespread adoption of renewable energy is crucial to meeting our Net Zero commitments.”
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Rainbow Energy is offering to install renewable energy infrastructure such as solar panels, heat-pumps and car-charging units. The company comments that it will “combine exceptional customer service with cutting-edge technology that will allow the efficient and cost-effective decarbonisation of all energy needs”.
Rainbow Energy argues that the falling cost of solar panels and rising wholesale gas prices have made renewable power more attractive.
“I couldn’t pass up the opportunity to be part of Rainbow’s enormous and important mission to empower households and small businesses to take control of their energy supply and become their own provider,” added Mullinger.
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