Armor Group buys 20% stake in French PV startup Holosolis

Facebook
Twitter
LinkedIn
Reddit
Email
Holosolis is planning to build a 5GW solar module assembly plant in Sarreguemines. Image: Armor Group

French chemical manufacturer Armor Group has acquired a 20% stake in PV manufacturing startup Holosolis.

Neither Armor Group nor Holosolis disclosed the amount of investment. After the acquisition, Armor Group will have a seat on the supervisory board alongside other shareholders including EIT InnoEnergy, IDEC group and TSE.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Armor Group claimed that its expertise in thin-film technology can help accelerate the development of perovskite-silicon tandem solar cells. The group’s experience in the French, German and wider European markets can also support Holosolis’ commercial development.

“After concentrating our efforts for several years on organic solar cells, which has proved to be a very promising but still immature technology, we have decided to focus our efforts on new-generation modules, because solving the climate crisis cannot wait and the need to act is urgent,” said Hubert de Boisredon, CEO of Armor Group.

Holosolis chairman Jan Jacob Boom-Wichers said Armor Group’s vision could help strengthen Holosolis’ business, as Holosolis aims to rebuild a French and European solar PV industry “capable of responding to the power of China”.

Holosolis announced plans to build a 5GW solar module assembly plant in France in May. The plant will be located in the northeast of France in Sarreguemines, close to the German border. Commercial production will start in 2025, with full capacity to be reached in 2027.

After the announcement of the plan, Holosolis signed a strategic collaboration agreement with German research organisation Fraunhofer ISE to support the setup of its PV production line in France. The collaboration aims to build cost-effective and efficient PV modules in Europe, based on tunnel oxide passivated contact (TOPCon) solar cells. Fraunhofer ISE will support the startup in selecting the technology and planning the factory at the concept design and construction phases.

German technology group and PV component manufacturer Heraeus acquired an undisclosed stake in October. Heraus said that it will supply Holosolis with its silver metallisation pastes, a key component in the manufacturing of solar cells.

Read Next

September 9, 2025
US solar tracker manufacturer Nextracker has acquired Origami Solar, a steel frame technology-focused company, for approximately US$53 million. 
September 8, 2025
France has awarded 971MW of ground-mount solar capacity, to 165 projects, in the eighth round of the PPE2 PV tender.
September 4, 2025
Indian solar manufacturer Waaree Energies has acquired a 64% equity stake in power transformer manufacturing company Kotsons.
September 3, 2025
Chinese solar manufacturer Trinasolar has signed a patent licence agreement with French module manufacturing startup Holosolis to use its TOPCon solar cell technology.
September 1, 2025
Solar Organic Centro España is planning to build a 10GW solar module and battery manufacturing facility in the Spanish autonomous community of Castilla-La Mancha.
August 31, 2025
Renewables developer and independent power producer (IPP) TagEnergy has acquired Australian developer ACE Power, adding 6GW of renewable energy and storage projects to its portfolio.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines