Evolar has been spun out of Uppsala University's thin film solar cell research cluster. Evolar aims to produce perovskite solar cells at a high volume.
Evolar defines itself as an expert on evaporation of thin film materials with solid industry experience and world leading technology achievements. It plans to use its know-how to design reliable solar cells and to fast scale new manufacturing processes.
It has a high throughput R&D line running 24/7 with a large number of experiments under production like conditions. Using its unique method to mechanically stack perovskite and conventional solar cells, Evolar achieved high efficiency as well as ease of integration.
In November 2020, Evolar announced that it is partnering with Magnora ASA, a leading investment company in renewable energy. The raised capital will be spent to scale the processes in Evolar's high throughput R&D tools and prototype line in Uppsala, Sweden and thereby bringing its technology to the market in the near future.
In May 2023, Evolar was acquired by U.S-based First Solar.
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First Solar acquires Evolar
First Solar (NASDAQ: FSLR), a leading American solar technology company, has announced that it has further strengthened its global leadership in thin film photovoltaics (PV) by acquiring Evolar, a European developer of perovskite technology.
The purchase price is approximately $38 million paid at closing and up to an additional $42 million to be paid subject to certain technical milestones being achieved in the future. The acquisition is expected to accelerate the development of next generation PV technology, including high efficiency tandem devices, by integrating Evolar’s know-how with First Solar’s existing research and development (R&D) streams, intellectual property portfolio, and expertise in developing and commercially scaling thin film PV.
Evolar's perovskite solar cell technology meets demands of 25 years stable lifespan
Sweden-based Evolar, which has developed a unique perovskite-based solar cell technology, has announced that it can now present results from climate tests that show at least 25 years lifespan with stable electricity yield.
Evolar's tandem technology reportedly provides 25% more electricity at a low cost. However, to be commercially ready, solar panels also need to have a guaranteed lifespan of at least 25 years with stable electricity generation throughout this period.
Evolar enters agreement for tandem silicon/perovskite solar cells for the South Asian market
Uppsala University spinoff Evolar has entered into a joint development project with an undisclosed Indian silicon solar module manufacturer to develop highly efficient perovskite/silicon tandem solar modules for the South Asian market.
'Evolar is developing a unique perovskite-based PV power booster technology that adds 25 percent power to conventional solar panels. Moreover, it is easy to integrate the perovskite thin film process into current production set-ups. We firmly believe that the combination of our perovskite-based technology and this manufacturing partnership, can play a key role in strengthening India's domestic solar module supply,' says Mats Ljunggren, CEO of Evolar AB.
Norwegian investor Magnora increases stake in perovskite solar company Evolar
Renewables investor Magnora AG recently announced that it will increase its investment in perovskite solar developer Evolar, taking a 40.7% stake in the company.
Mats Ljunggren, Evolar's chief executive, said the company's next-generation solar cells have 'Much higher efficiency for about the same per-watt manufacturing cost' as traditional technologies.
Perovskite PV startup Evolar secures investment to target rapid commercialization
Sweden-based perovskite-based PV start-up Evolar has announced an investment from Norwegian renewables investor Magnora as it targets rapid commercialization of its technology.
Evolar has been researching the development of perovskites in solar cells, and Evolar now intends to help commercialize the technology. Evolar's approach is to add a perovskite-based thin-film layer to cells to create a tandem solar cell, which the company said is expected to increase module efficiency by five percentage points.
