Oxford PV taps key investors for £8.02 million in new funding

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Perovskite solar cell developer Oxford Photovoltaics (PV) has undertaken a new funding round, led by key investors, Statoil and Legal & General Capital. Image: Oxford PV

Perovskite solar cell developer Oxford Photovoltaics (PV) has undertaken a new funding round, led by key investors, Statoil and Legal & General Capital.

Oxford PV said that the £8.02 million (US$11.18 million) investment was to support its ongoing commercialisation program, which takes its perovskite-on-silicon tandem solar cell technology from the company’s new lab in Oxford, UK to industrial scale processes and equipment at the company’s process demonstration line in Brandenburg an der Havel, Germany.

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Frank P. Averdung, Chief Executive Officer, at Oxford PV stated, “Over the last few years Oxford PV has built significant momentum and has now scaled up the necessary infrastructure such as R&D competencies, industrial capabilities, and a joint development partnership with a large photovoltaic player, enabling the company to maintain its leadership position in this area and bring a commercial perovskite PV solution to the silicon solar market in the near future.”

Oxford PV also noted that it had secured over £35 million in funding in the last four year and in December 2017, announced it had been granted €15 million from the European Investment Bank (EIB).

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

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