NovoPolymers has announced that in addition to expanding its Belgian production plant, the company has also received €4.2 million from its shareholders Gimy and Capricorn Cleantech Fund during the company’s second financing round
Johan Declerck, CEO of NovoPolymers remarked, “Early [in] 2008, our vision was to bring innovation in encapsulation hand-in-hand with significant production capacity, as we believe this is the only way forward for an emerging industry in renewable energy to become sustainable. With this capital round we are on schedule to get our first plant to a necessary 1GWp scale. On top we have [been] reassured by this round that our R&D pipeline can continue to design innovative products and our organization can be strengthened with top quality key personnel.”
With the expansion of the company’s manufacturing facility, the Belgian plant will have a production capacity of 1GWp. NovoPolymers’ technology is based off thermally curable ethylene vinylacetate (EVA) sheets. They are known for their line of thermoplastic-based encapsulant sheets used in c-Si cell-based PV modules. Further, the company is developing a cured EVA system to expand its portfolio further.