Exposing People to Creative Alternatives
When renewable energy startups successfully raise funds, they tend to capture headlines, which can draw attention to their potentially groundbreaking ideas. Then, people can realize the options available are more diverse than they initially thought. One example comes from AirLoom, which recently raised $4 million in a seed round. Those involved with the company want to offer a non-traditional form of wind power more versatile than the increasingly large wind turbines.
AirLoom’s prototype involves a cable running in a track on top of numerous 82-foot-tall poles arranged in an oval. The cable has 33-foot blades attached to it that catch the wind traveling along the cable’s length, capturing about 57% of the wind’s energy or 7% more than conventional turbines.
The executives will use the seed round fundraising to build a low-friction system, aiming to reach a wind power cost goal of $13 per megawatt-hour. Reaching that milestone would make AirLoom’s setup at least 50% cheaper than traditional on-shore wind turbines.
It is too early to predict the likelihood of the enterprise developing an effective, efficient and scalable model that will gain mainstream adoption. However, this example shows how fundraising can give startups the necessary resources to experiment and find feasible ways to bring visions to life.
However, a successful venture’s work must go further to catch potential customers’ interest. One popular possibility is to create blog posts and videos that raise environmental awareness and target known pain points.
Once people understand why learning about a renewable energy startup benefits them, they will be more likely to become customers — and maybe even contribute to fundraising by investing in appealing projects.
Showing Renewable Energy as a Viable Alternative
The most effective fundraising campaigns often segment donors and send specific communications to the various groups. How a fund-seeking entity engages with first-time donors will differ from how it communicates with people giving monthly contributions.
People raising funds for renewable-related causes must also tailor communications to make their solutions seem accessible to those who might use them. That is the approach taken by Beem, which raised €20 million in support of its do-it-yourself solar panels.
The business is targeting the European market with 420-watt connected solar kits that its website promises can save users up to €250 per year on their energy bills. Each kit costs €710, so the product pays for itself in less than three years. However, the 420-watt capability also indicates the proposed customers already use some solar technology and want something to supplement it.
London-based Modo Energy is another startup trying to position renewable energy as an attractive pursuit. As of November 2023, it had secured €13.6 million in Series A funding. The company’s technology caters to owners and operators of grid-scale battery energy storage systems, providing them with insights to navigate the changing landscape.
The latest version of the platform offers features including bankable price forecasts, educational materials and real-time market screens. Providing users with all the information in one place helps them make confident decisions as the renewable energy market change.
Fundraising Highlights Renewable Energy Possibilities
The startups launching renewable energy fundraising campaigns are often behind impressive ideas that break the boundaries of current possibilities. As people from these brands use their financial resources to find the most practical ways to meet the world’s needs, the public is more likely to perceive them as deserving of their attention.
Investors will also appreciate knowing about the latest in renewable energy startups. Then, they can prioritize the most sustainable and efficient options that catch their attention, and address current and future real-world needs.
