Financial

Three research projects by City University of Hong Kong (CityUHK) scholars have been awarded funding under the 2024/25 National Natural Science Foundation of China (NSFC) and the Research Grants Council (RGC) Collaborative Research Scheme (CRS), amounting to over HK$8.8 million (around USD$1,130,000). Additionally, five CityUHK scholars have been awarded funding from the 2024/25 NSFC/RGC Joint Research Scheme (JRS), with total funding exceeding HK$6 million (over USD$770,000). 

Among the CityUHK research projects awarded funding under the Collaborative Research Scheme is  “Theoretically Guided Material Design, Syntheses and Device Engineering for Efficient and Stable Perovskite/Organic Tandem Solar Cells”, led by Professor Zeng Xiaocheng, Head and Chair Professor of the Department of Materials Science and Engineering, which aims to develop high-performance perovskite/organic tandem solar cells with efficiencies exceeding 28%, promoting the development of sustainable clean energy while advocating global carbon neutrality.

MOL PLUS has announced its intent to invest in EneCoat Technologies, a spin-off company from Kyoto University that develops perovskite solar cells and related materials.

MOL PLUS stated it is "pleased to participate in this fundraising" and views the widespread use of perovskite solar cells as a revolutionary solution that will enable power generation anywhere, indoors or outdoors. Moving forward, the MOL Group plans to study a wide range of applications in the port, logistics, and real property fields, including installation on the decks of freighters and on the roofs and walls of port facilities such as warehouses and terminal cargo handling centers.

It was reported that Japan's Ministry of Economy, Trade and Industry (METI) and the New Energy and Industrial Technology Development Organization (NEDO) have decided to support a demonstration project for perovskite solar cells conducted by Sekisui Chemical and Tokyo Electric Power Company Holdings (HD). 

The total project cost is estimated at about 18.3 billion yen ( just under USD$119,000,000), with approximately 12.5 billion yen (around USD$81 million) to be subsidized through the Green Innovation (GI) Fund project. The project will verify installation methods, construction methods, and mass production technologies that take advantage of the unique characteristics of perovskite solar cells.

It was reported that SolaEon Technology, a Chinese manufacturer of next-gen solar cells with a focus on perovskite-based PV, recently signed an investment contract with the local government of Xuzhou City, China, as one of fifty-six contracts signed at the 27th Xuzhou Trade and Investment Fair.

SolaEon plans to invest about 1.2 billion yuan (almost USD$170 million) in the perovskite solar cell production base in the High-Tech Zone. Upon completion of the production lines with an annual capacity of 200MW and 1GW of perovskite cells, the production value is expected to reach 2 billion yuan (approximately USD$283 million) per year.

The U.S. Department of Energy (DOE) Solar Energy Technologies Office (SETO) Small Innovative Projects in Solar (SIPS) 2024 funding program provides $5.4 million for seedling R&D projects that focus on innovative and novel ideas in photovoltaics (PV) and concentrating solar-thermal power (CSP) and are riskier than research ideas based on established technologies.

The 16 selected projects were recently announced, among them were 5 perovskite-related projects.

The Rochester Institute of Technology (RIT) has been selected to lead the United States Space Force University Consortium/Space Strategic Technology Institute 3 (SSTI) research regarding advanced space power and propulsion, which is backed by $9.9 million in funding.

The research is in partnership with the Air Force Research Laboratory and will enable game-changing space power and propulsion technology that will transition to the U.S. Department of Defense. The University of Michigan is also a lead institution for this research, which will include advancements in solar technology, thruster technology, and novel power approaches. As a center leader for the SSTI, RIT will work with other university partners to develop lower-cost, sustainable solar cells that can be used for power systems.

An EU-funded Laperitivo project was launched earlier this month, focused on manufacturing large-area stable perovskite solar modules. Laperitivo stands for “large-area perovskite solar module manufacturing with high efficiency, long-term stability, and low environmental impact.” The project aims to achieve 22% efficiency for 900 cm² opaque panels and 20% for semi-transparent modules with more than 95% bifaciality.

The team will focus, among other things, on solving scalability challenges, to promote large-scale mass production with minimized losses. The abstract of the project’s EU funding paper also states that: “Indoor and outdoor field tests will be performed to monitor module reliability. Safety, circularity, and sustainability will be assessed to demonstrate products with minimized environmental impact.”

Perovskia Solar, a spin-off from the Swiss Federal Laboratories for Materials Science and Technology (Empa), has secured USD$2.4 million in funding from a global coalition of angels and early-stage funds, and successfully obtained 10+ Internet-of-Things (IoT) industry leaders as clients. The startup has introduced the first ready-to-adopt perovskite solar cells on the market for edge devices and is scaling up its Swiss manufacturing capacity.

Perovskia Solar is a Swiss cleantech startup that develops highly efficient, custom-designed solar cells for IoT and consumer electronic devices. These cells harness ambient light to power the next generation of self-sustaining devices, drastically reducing reliance on traditional batteries and minimizing waste. The company's vision is to integrate a solar cell into every device, enabling clients to launch breakthrough products with superior end-user experiences while tackling global environmental challenges. 

The Washington State Department of Commerce (DOC) announced a $37 million investment into 46 clean energy projects throughout the state.

The programs will be funded by the Washington Climate Commitment Act (and additional state funding), with $14 million going towards the “Research, Development and Demonstration” program, which awards “projects fund multiple new and developing technologies, ranging from low-head turbines to create hydropower, to several different carbon capture technologies, to low-carbon concrete products.”

Reports suggest that a number of renewable-related projects have recently been signed in Shanghai, China, including a 1GW perovskite module factory.

The perovskite solar module factory will be initiated by Wuxi UtmoLight Technology (UtmoLight), a China-based technology development company working towards perovskite commercialization, with a total investment of 1.5 billion yuan ( around USD$212,221,000), The new facility will be located in Heze City, Shandong Province.