Oxford PV raises $41m for perovskite solar cells

Oxford PV raises $41m for perovskite solar cells

Business news |
By Nick Flaherty

The Series D round includes a major new investment from Goldwind, the leading provider of integrated renewable energy solutions in China, as well as backing from existing shareholders including Equinor and Legal & General Capital.

The funding will support the commercial rol out of perovskite-on-silicon solar cell technology . This passed key reliability tests in line with the IEC 61215 protocol and the company’s pilot line in Germany is routinely producing commercial sized tandem solar cells for validation by its development partner, a major silicon solar cell and module manufacturer. In December the company also raised €15m of loans from the European Investment Bank (EIB) for the pilot line.

“Goldwind’s investment in Oxford PV supports our commitment to innovation that delivers clean, cost efficient renewable energy. It is our belief that photovoltaics and wind power will become an increasingly important part of the global energy mix, over the next 20 years,” said Xiao Zhiping, Vice President at Goldwind.

“Goldwind’s investment in Oxford PV and the continued support of our existing shareholders, demonstrates the confidence in our technology and its commercial readiness. We are delighted to have investors that recognise the capability of our perovskite solar cell technology to transform the performance of silicon-based photovoltaics and the role it will play in the global transition to a clean energy future,” said Frank P. Averdung, Chief Executive Officer at Oxford PV.

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