Oxford PV secures another £34 million in funding round
Post date: 03/07/2019 - 19:38
The British company Oxford PV, which specialises in perovskite solar cells, has closed its Series D funding round. An additional £34 million ($43 million), following the £31 million ($41.1 million) first close, brings the funding round total to £65 million. The first close, announced in March 2019, included a significant new investment from Goldwind, provider of integrated renewable energy solutions in China, as well as investment from existing shareholders including Equinor and Legal & General Capital. The additional funds include the major new investment from Suisse photovoltaic equipment supplier Meyer Burger AG with the remaining investment coming from other new and existing investors. »We now have the funds to move into manufacturing and accelerate market introduction. The production line we are installing in Germany, to manufacture perovskite-on-silicon tandem solar cells, will be the first of its kind anywhere in the world,« commented Frank P. Averdung, Chief Executive Officer at Oxford PV.
In March 2019, Oxford PV announced its plans to move into volume production when it signed a collaboration agreement with Meyer Burger. As part of the agreement, Meyer Burger will install a 200 MW silicon heterojunction solar cell line, enhanced with production equipment for the perovskite top cell, at Oxford PV’s site in Brandenburg an der Havel. The fully integrated line will commence perovskite-on-silicon tandem solar cell production at the end of 2020.