1. Could you introduce Awendio Solaris and Awendio Capital and explain the vision that connects both companies?
It’s a vision that comes from my background, combining both technology and finance, both in my education and in my professional career.
Awendio Solaris’ vision is to develop and operate very large-scale gigawatt solar manufacturing, specifically, solar panel production, focusing on creating a complete value chain in North America, from quartz all the way to the finished solar panels. All manufacturing will be based in North America. Why? Because solar energy is at the core of electrification, decarbonization, and is already a major driver of growth in the energy sector. In the US, solar accounts for about 60% of new energy installations, which is significant.
Awendio Solaris was born out of Awendio Capital, my investment banking firm, which I founded after a career in technology corporate finance. Awendio Capital helps companies in climate tech, AI, and space technologies, sectors that, while distinct, are deeply interconnected and crucial for the future. We focus on providing financing and supporting M&A activities for growth-stage companies in these industries.
2. What motivated you to establish a presence in Jersey, and how does the jurisdiction support your ambitions?
Personally, there was a push and pull dynamic. I’d lived in London for 25 years, after having lived in seven different countries. It was time for me, and for my family, to move on. My wife, who’s also an entrepreneur, and I felt that London had become increasingly complicated due to regulation, taxation, lifestyle factors, Brexit, and shifting government policies. We wanted something different, both for our personal lives and for our professional ambitions.
The pull factor was Jersey itself. It’s at the heart of Europe, nestled between France and the UK. Though I’m originally Canadian, I acquired UK citizenship some years ago, and my wife is French, so Jersey is the perfect blend for us. It’s well connected, close to London and France, highly developed digitally, and offers a beautiful environment with sunshine, stunning landscapes, and the blue sea. It’s also a great place for personal and professional growth, which was essential for us as a family.
3. Can you tell us more about your projects at Awendio Solaris? How do you plan to expand, and what are the next steps for the company?
At Awendio Solaris, we’re currently negotiating with governments, financial partners, and buyers of solar panels to build the case for large, multi-gigawatt manufacturing plants and research centers. We’re evaluating potential projects in both Canada and the United States, with the goal of serving all of North America.
Energy is fundamental for industrial development, a priority shared by governments across the political spectrum, whether it’s Mark Carney’s perspective in Canada or former President Trump’s in the US. Energy production has also become a national security issue. Countries want to ensure their energy technologies and production capabilities are developed domestically to avoid dependency on third parties, which history has shown is rarely a good idea.
We’re quite advanced in our projects. In fact, we already have more than five years of future production pre-sold, which underscores the massive demand for solar products in North America.
4. How many people are involved in setting up a gigafactory of this scale?
A gigafactory in North America typically represents an investment of around $1 billion. So, as you can imagine, it requires a significant team to execute.
Currently, during the project setup phase, we operate with a core team supported by consultants, totalling about 70 people. This includes financiers, lawyers, engineers, and sales specialists.
Once the factory is operational and in full production, we’re looking at employing around 1,000 people per plant, with the potential to grow up to four times that size, reaching around 4,000 employees. These are massive facilities, producing approximately 20 shipping containers’ worth of solar panels each day. It’s a scale designed to support the base of North America’s electricity infrastructure.
5. What are some of the most exciting innovations or technologies you’re currently backing through Awendio Solaris?
Solar technology has undergone several evolutions, improving both performance and cost. That’s why solar has become the most cost-effective energy generation method worldwide, it’s now even cheaper than fossil fuels. And it’s clean, especially when manufactured sustainably, as we intend to do in North America.
Several significant technological advances have emerged from both Europe and China. We leverage those proven technologies in our current production, which is stable and highly reliable. The solar panels we manufacture today are designed to last for around 30 years and are well accepted by utility companies.
However, the next frontier is even more exciting. There’s ongoing research, often using AI, to develop solar panels that can achieve higher efficiency. Currently, panels reach about 23% efficiency in converting sunlight to electricity. We aim to push that beyond 30%, which means transforming even more of the sun’s rays into usable energy. That’s where a lot of our innovation efforts are focused.
6. So you must have a significant R&D department dedicated to this effort?
That’s correct. We are setting up a substantial R&D effort in collaboration with several universities. At the moment, we’re working closely with three universities in North America, while also engaging with major research partners in Europe who are at the forefront of this technology.
We’re creating a dedicated research center focused on applying AI to discover new materials and more effective manufacturing processes. But it’s not just theoretical work, solar panels are essentially large semiconductors, so any new material or method must undergo rigorous testing for stability and performance under real-world conditions.
7. Awendio Capital positions itself as an impact investor. How do you measure and balance financial returns with environmental and social value?
That’s a crucial topic. Early on, we discussed returns not just in financial terms but also in ESG metrics, environmental, social, and governance. We measure human impacts, inclusion, biodiversity, and the quality of working environments, which are all very important to us.
At the same time, financial returns remain essential. More investors today approach renewable energy as a field where strong financial returns are possible, particularly in markets protected from aggressive price competition, like that seen from some Asian manufacturers.
In the United States, for example, solar has delivered excellent returns, even during the Trump administration, which, perhaps surprisingly to some, was quite progressive in advancing solar energy projects. It’s a sector with significant financial promise as well as social and environmental impact.
8. From a purely operational standpoint, Jersey is gaining traction as a base for sustainability-focused investment platforms. What advantages do you see in operating from Jersey?
There are three main advantages for me in choosing Jersey, beyond personal reasons.
First, connectivity. Jersey is geographically central in Europe, making it easy to travel and stay connected. In today’s world, where businesses and teams are spread globally, that connectivity is invaluable. At Awendio Solaris, for instance, we have teams in London, Canada, the US, and even Dubai and Oman.
Second, Jersey has an impressive ecosystem of professional services for its size. The quality and speed of banking, accounting, and legal services here are exceptional. The network is tight, and it’s easy to find solutions and move projects forward quickly.
Third, Jersey is tax-efficient. I wouldn’t call it a tax haven, it’s a jurisdiction focused on efficiency. It enables capital to be deployed effectively into businesses that create jobs and economic value. Personally, I also appreciate that it offers an efficient environment for healthcare and education. It’s about efficiency across the board.
9. What message would you like to share with Newsweek readers about Jersey’s potential as a gateway for responsible investment and innovation?
Jersey offers significant advantages for investment and innovation, particularly because of its stability. In today’s world, geopolitical and geoeconomic uncertainty is high, and regulatory frameworks are shifting constantly. Jersey provides a stable environment, politically, economically, fiscally and legally, which is crucial for businesses and investors alike.
That stability is one reason why so many financial services, trusts, funds, and wealth management operations have chosen Jersey as their base. For investment banking and for services like those offered by Awendio Capital, it’s important to operate in a jurisdiction that’s secure, predictable, and efficient.
Although Awendio Solaris itself is a UK, Canadian, and US company, Jersey remains an important part of our overall strategy because of these advantages. The world today is highly interconnected, it’s no longer about one country doing everything alone. People and capital are distributed globally, working together to drive progress.
10. Is there anything else you’d like to add that we haven’t covered?
Jersey also faces its own challenges in shaping its future. The financial sector here is thinking deeply about what comes next, particularly how to integrate evolving trends like AI, further internationalization of services, and new ESG requirements.
I’m pleased that Jersey is engaging newcomers like myself in these discussions. Although I only moved here about a year and a half ago, I’ve found that people are keen to exchange ideas about where the opportunities lie. Jersey has many strengths, stability, a progressive regulatory environment, and strong support for ESG finance. It’s ideally positioned to become a hub for the intersection of technology, climate solutions, and finance.
Given its location in the middle of the sea, Jersey is a daily reminder of how crucial climate action is. And behind every technology or climate solution, there’s always the role of finance. Those three areas, technology, climate, and finance, work beautifully together, and I believe Jersey is exceptionally well-placed to seize that opportunity.
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