In July 2017, Greatcell Solar (formerly Dyesol) announced a plan to raise $5 million AUD (almost $4 million USD) in a share purchase plan. Now, Greatcell announced that it has executed a subscription agreement for a strategic investment of $4 million from an Australian food, water and energy fund. The fund has strongly indicated its interest to maintain its percentage shareholding and, where possible, increase it over time as Greatcell transitions from R&D to global mass manufacture.
The funds will be used to expedite plans to develop Greatcell's prototype facility at CSIRO at Clayton, Victoria and to immediately commence procurement of long lead-time capital equipment required for the prototype facility. These activities are critical and will allow Greatcell to advance technology development and move forward with its Commercialization Schedule relating to glass substrate Perovskite Solar Cells.
