Nexwafe acquired €10 million to start pilot manufacturing activities

German monocrystalline wafer manufacturer Nexwafe GmbH, a spin-off of Germany’s research center Fraunhofer Institute for Solar Energy Systems ISE, announced completion of a €10 million ($12 million) capital raise with participation from both existing and new shareholders.
Investors in the Series B round include Fraunhofer, Saudi Aramco Energy Ventures, GAP Technology Holding, Lynwood Schweiz AG and Bantina Invest Limited. With this additional cash infusion, Nexwafe will move forward with further industrialization of its »Epinex« green high-efficiency solar wafer technology and begin its pilot manufacturing activities. According to the company, as its »moves into its next stage, it is also intensifying discussions with potential partners to commercialize the technology.«
Nexwafe also announced that as it meets these milestones, Peter Pauli will step down as Chairman of the Board of Directors. He will continue his association with Nexwafe and remains a shareholder. Bart Markus, a member of the Board of Directors of Nexwafe since 2019, succeeds Peter Pauli as Chairman.
Nexwafe uses in-line epitaxy for production of high-efficiency monocrystalline silicon wafers. The company has a 5 MW pilot production facility in Freiburg/Germany, with qualification shipments planned to start in 2021 and plans to raise further capital to support that activity.

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