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Flisom, a Swiss company which develops technologies for manufacturing of flexible thin film CIGS solar modules (copper-indium-gallium-(di)selenide), reports that it has raised an unspecified but “substantially large” investment to further develop its technology and build a production plant with an annual capacity of 15MW in Switzerland.

Besides securing financial backing, Flisom also signed an agreement with Empa, the Swiss Federal Laboratories for Materials Science and Technology, to provide research and development support on high-efficiency flexible CIGS solar cell technology.

Flisom’s third funding round was completed with participation of a Swiss investor along with Flisom’s existing strategic investor, Indian multinational conglomerate,  Tata Group.

Flisom’s interim CEO Marc Kaelin said:“This new investment marks investors’ satisfaction with Flisom’s progress towards the development of industrial manufacturing technology for roll-to-roll production of flexible solar modules.

“The 15MW plant will serve as a blueprint towards the establishment of larger-scale plants to manufacture flexible solar modules at low cost”,

Kaelin added: ”Flisom’s technology shows strong potential in helping solar electricity become affordable.”

In a statement released yesterday Flisom said its high performance products, processes and systems could lower the price of solar electricity thanks to low material usage, economic production technology, and reduced storage, transportation and installation costs.