Financial - Page 6

India-based P3C Technology and Solutions has announced a fund raise of $250,000 with a further commitment of $3 million based on successful trails. The funds will be used to demonstrate the flexible perovskite solar cells to various government and private bodies like Indian Railway and automobile manufacturers. 

According to P3C, the investment comes from Oberoi Thermit Private Limited, a company with an impressive history of introducing new and innovative products and services which are highly beneficial for Railways. The organization is always looking to introduce new and improved technologies in India which can benefit the country. They are responsible for the introduction of some of the most safety critical technologies in Indian Railways like 3D Scanning of Bridge bed, Bridge Health Monitoring, Vehicular Ultrasonic Testing of rails, Phased Array Ultrasonic Testing of welds amongst other things. 

A project from Oklahoma State University was selected to receive a $750,000 grant from NASA.

The grant will go toward efforts in exploring a fully Vacuum Thermal Evaporation (VTE)-processed halide perovskite solar cell using only solid precursors for developing a simple solar panel manufacturing process suitable for space.

Italian solar company, FuturaSun, has acquired Solertix, a start-up specialized in perovskite solar cell research and upscaling for industrial applications.

This acquisition represents a major investment for FuturaSun in scientific research and in the development of innovative technologies. Alessandro Barin, CEO of FuturaSun, emphasizes the strategic importance of this step, stating, “Perovskite is the future of high-efficiency photovoltaics, and in this specific R&D segment, we couldn’t afford not to be key players, working alongside those who are dedicated to scientific research at the highest academic levels.”

American Perovskites (AP), a material and equipment supply company, has recently been named a finalist in the American-Made Startup Contest and awarded $200,000 to synthesize a novel family of polymer hole transport materials. AP is working with a host of players including Colorado School of Mines, TDA Research, TandemPV, and The University of Toledo. Their innovation is industrial synthesis of a novel family of polymer hole transport materials with excellent reliability, optical properties, and cost.

Another finalist in this contest was Perotech Energy, whose innovation is developing perovskite bifacial modules using high throughput and low-cost solution process with high stability and energy yield. 

Hanwha Q Cells, the solar panel unit of Hanwha Solutions Corp., has announced a large investment of 136.5 billion won (around USD$102 million) to establish a test facility for mass production of perovskite-silicon tandem cells and modules at its Jincheon plant in North Chungcheong Province. The trial operations for the new facility are scheduled to begin in the latter half of next year.

In collaboration with its German R&D center in Talheim, which currently operates a small-scale test production line for R&D purposes, the company plans to launch full-scale mass production of tandem cells in the second half of 2026.

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.

A new consortium of academic and industry partners, Tandems for Efficient and Advanced Modules using Ultrastable Perovskites, or TEAMUP, looks to help mitigate climate change by making a new generation of solar technology commercially viable.

The three-year TEAMUP collaboration, which is planned to start in the fall of 2023, is supported by $9 million in funding from the U.S. Department of Energy. TEAMUP seeks to maximize the performance and reliability of tandem solar panels for consumer use.

The US Department of Energy supports perovskite R&D initiatives, both in academia and industry. We have recently interviewed Lenny Tinker, Photovoltaics Program Manager, Solar Energy Technologies Office at the US DoE.

Q: Hello Lenny, thanks for your time. Do you believe perovskite materials hold the key to next-gen solar (PV) energy?

Perovskite solar cells have shown potential for high performance and low production costs. However, considerable work needs to be done in order for these materials to reach commercial success in PV applications.

U.S-based PV company, Ascent Solar Technologies (ASTI), has announced that it has entered into a USD $5 million debt financing agreement with BD1 Investment Holdings, a substantial existing stockholder of the Company. The Company will receive the monies in four monthly installments. The first tranche (for $2 million) will close in mid-May 2023. Three subsequent tranches (each for $1 million) will close in mid-June, mid-July, and mid-August 2023. The proceeds of the investment will be used for general business operations and working capital for future initiatives.

This commitment from BD1 Holdings arrives as the Company accelerates a strategic plan that includes global expansion, new revenue streams and progress in perovskites solar technology. This announcement is preceded by a series of announcements including a 300% increase in modern manufacturing capacity at a new location in Switzerland, a new $9M round of equity financing, and the inauguration of a new Center of Excellence focused on Perovskites commercialization.

The US Department of Energy (DoE) has announced USD$52 million (EUR 47.5 million) in funding for 19 research, development and demonstration projects that seek to strengthen domestic solar manufacturing, support the recycling of solar panels and develop new solar technologies.

This funding will back several projects, among which two projects, led by the Massachusetts Institute of Technology (MIT) and the University of Colorado Boulder, will receive a total of USD$18 million through the PV Research and Development funding programme to advance perovskite solar cell devices.