Oxford PV acquires a further £31 million
Post date: 18/03/2019 - 11:02
The British company Oxford PV, which specialises in perovskite solar cells, has raised a total of £31 million ($41.1 million) in a new financing round. According to a statement by Oxford PV, the money was made available by shareholders already involved, in particular by Chinese Goldwind Science & Technology Co. Ltd., Norwegian Equinor ASA and British investment company Legal & General Capital.
Oxford PV intends to use the funding »to move its perovskite based solar cell technology into the commercial phase«. In the past year, some tests have been carried out »in line with the IEC 61215 protovol« and the company’s pilot production is »routinely« producing commercial sized tandem solar cells. These cells would be validated by the company’s industrial partner, an unnamed »major silicon solar cell and module manufacturer«.
Over the past five years, Oxford PV has raised £76 million ($100.7 million) in funding and also received €15 million ($ 17 million) from the European Investment Bank (EIB) in December 2017.