Swift Solar has announced the close of its $27 million Series A financing round. The round was co-led by Eni Next and Fontinalis Partners. Also joining the round are new and existing investors including Stanford University, Good Growth Capital, BlueScopeX, HL Ventures, Toba Capital, Sid Sijbrandij, James Fickel, Adam Winkel, Fred Ehrsam, Jonathan Lin, and Climate Capital.
In total, Swift Solar has raised $44 million for its mission to transform the solar energy landscape with perovskite tandem solar products. Proceeds from this round will accelerate Swift Solar’s scaling of efficient and stable tandem technology as the Company prepares to break ground on its first factory. Swift Solar also plans to build a factory in the U.S. in the next two to three years to manufacture thin-film solar.
“Solar is the future of energy—not just clean energy,” said Joel Jean, co-founder and CEO of Swift Solar. “Our advanced perovskite solar cells can outperform anything currently available on the market. People may not realize that solar manufacturing today is concentrated in China and Southeast Asia. Swift Solar will bring advanced solar manufacturing back to the U.S. and strengthen our domestic renewable energy sector. This is an unprecedented opportunity to reshape the global solar industry. With this round, we’re excited to partner with world-class deeptech and strategic investors to take Swift to the next level.”
Swift Solar’s efforts to establish the United States as a force in advanced solar manufacturing have attracted over $16 million in federal and state grants from the U.S. Department of Energy, Department of Defense, National Science Foundation, and the California Energy Commission. With this Series A funding, Swift Solar aims to lead in developing this next-generation technology and building a more sustainable future, powered by clean energy.
