Molecular Solar, a spin-off company from the UK’s University of Warwick, is looking to raise £5 million in order to commercialise its flexible and lightweight solar cells. The funding will help the company establish its bespoke technology facility and successfully market the final product.
“We are working with solar cells made from organic semiconductor materials which offer the prospect of very low-cost manufacturing of lightweight, flexible cells,” Molecular Solar researcher Professor Tim Jones said.
Jones added that the cells’ properties enable them to be employed on a variety of small-scale applications,“they are made from sustainable materials and can be deployed as flexible sheets that could be used for a variety of applications, including a solar-powered mobile phone charger that rolls up into a shape as small as the size of a pen, micro-lights that can be added to clothing, and a detachable sun-shade for automobile windscreens that powers a small integral fan to circulate air and cool the interior of the car when parked in direct sunlight.”
Molecular Solar is also participating in a £2.1 million project being funded by the Technology Strategy Board, the Engineering and Physical Sciences Research Council and other companies to develop prototype third-generation organic solar cells.
“Our model is to back world-leading academic excellence associated with scalable, disruptive technology – Molecular Solar excels on all fronts and we see this new venture as the potential leader in the development of third-generation organic solar technology making this form of energy provision open to a much broader marketplace,” said Mark Payton, the managing director of Mercia Fund Management, which led the company’s latest investment round.