Oxford PV closes $90m round for perovskite solar cell production
The cash will be used to take the current pilot line in Germany to full production of tandem perovskite solar cell technology by the end of 2020.
The first part of the round closed in March 2019 with £31m from Chinese investor Goldwind and Swiss manufacturer Meyer Burger. This second half was led by Meyer Burger and included new and existing investors. This brings the total investment to $152m.
“The success of our funding round and the quality of the new investors we have attracted, validates the commercial readiness of our technology,” said Frank Averdung, Chief Executive Officer at Oxford PV. “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. This is a significant moment for Oxford PV and our perovskite photovoltaic technology.”
In March 2019, Oxford PV announced its plans to move into volume production with the tandem perovskite solar cell technology 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 to put the perovskite solar cell on top, at Oxford PV’s site in Brandenburg an der Havel, Germany. The fully integrated line will commence perovskite-on-silicon tandem solar cell production at the end of 2020.
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