Exeter alumnus powers up new solar energy system for UK

A solar energy startup co-founded by an Exeter alumnus has raised £1 million to power its expansion nation-wide.

GRYD Energy is a solar tech startup that deploys a UK-first subscription model so that developers and homeowners can install solar without paying upfront for the hardware. 

It was co-founded in 2023 by Tom Jordan, a former University of Exeter Business School student who lives in Cornwall, where GRYD launched a successful residential pilot last year. 

Now, GRYD is ready to go national after securing £1 million in pre-seed funding, which will enable the business to accelerate deployment of its solar and battery systems through partnerships with housing developers, registered providers and local authorities.

GRYD’s subscription model allows developers and homeowners to install solar without any upfront payments. 

The solar hardware is funded and maintained by GRYD for a guaranteed fixed monthly price that averages around £65 per month for a four-bedroom home across the 25-year life of the system. 

The GRYD system is estimated to eliminate 1.2 tonnes of CO2 emissions per home annually and during the pilot in St Ives, Cornwall, it reduced residents’ energy bills by 15%. 

Tom Jordan, CCO and co-founder of GRYD Energy, said: “Despite solar being the cheapest form of energy, over 9 million UK homeowners can’t access the bill-saving benefits of solar due to the high upfront costs. 

“Developers across the country – who already face increased build costs – have struggled to invest in the renewable technologies they need to decarbonise and futureproof their properties. We want to prove how innovative solar solutions can make clean energy accessible and affordable to all.” 

Tom grew up in Cornwall with a love for the sea and a deep connection to the environment and natural world. 

It was there, selling ice creams on the beaches from a young age, that Tom had his first taste of entrepreneurship, and he never looked back. 

He chose to study Business Economics, a degree that includes a placement year, which Tom spent working for FTSE at the London Stock Exchange – an experience that made him realise that corporate life wasn’t for him. 

After graduating, together with fellow Exeter alumnus Jesse Wilson  he co-founded the beer-brand JUBEL, before deciding to turn his attention to a climate-focused venture in 2023. 

While at Exeter he took advantage of all the resources Exeter offers budding entrepreneurs, receiving advice and support from SETsquared Exeter and Exeter’s startups programme. 

“University is great fun, isn’t it?” Tom says, reflecting on his time at Exeter. “It’s an excellent mix of meeting new people and learning how to apply yourself to completely different situations, whether that’s corporate or entrepreneurial or something else entirely. For me, I left knowing I wanted to build startups. I like the creativity and risk associated with building something from scratch that has the possibility to have real impact.” 

Exeter’s values and commitment to make the world a greener, healthier and fairer place is reflected in alumni like Tom, who would advise those looking to start their own business to follow their curiosities.  

“If you have strong conviction in your idea and feel connected to the bigger picture of why your business exists, my advice would be not to overthink the first step and just get started,” he says. “You might be surprised where it will take you.”