PV module equipment specialist Valoe Corporation, formerly Cencorp has secured €4 million in new funding from Finland’s funding agency for innovation, Tekes.
Valoe said that the funding over the next seven years would support its development of solar cell and conductive back contact technology for automated PV module assembly, which was said to require a total of around €5.8 million in RD&E.
Iikka Savisalo, Valoe’s CEO said: “The decision of Tekes to fund Valoe’s photovoltaic technology based on the next generation back contact is significant. Valoe has been co-operating closely with Tekes for several years in relation to the development of the next generation solar cells. The decision of Tekes to provide Valoe with more funding strengthens remarkably Valoe’s possibilities to create an ecosystem based on the technology developed by Valoe. I believe that in the near future we will see new initiatives supporting Valoe’s understanding that the market share of the back contact modules will grow fast in the next few years.”
Valoe had also noted that its first contract to supply a fully-automated system, which had been dogged by financing issues, could be finally secured and the order signed with an unidentified customer by the end of January, 2016.