The company said in a statement that it had failed to make it a compelling investment case at this time, due the stage of development it had achieved with perovskite materials and solar cells. Image: Greatcell
Australia-headquartered Greatcell Solar, formerly Dyesol Solar has appointed administrators after failing to secure further financing to develop its perovskite materials and solar cells to a commercial level.
The company said in a statement that it had failed to make it a compelling investment case at this time, due the stage of development it had achieved with perovskite materials and solar cells.
Administrators BRI Ferrier were said to have been appointed to the Greatcell Solar group, which includes key subsidiaries having been awarded R&D grants in the past in countries such as the UK, Singapore and Australia (Greatcell Solar Limited, Greatcell Solar Industries Pty Ltd and Greatcell Solar Australia Pty Ltd).
However, the company also noted that it 50% subsidiary, Greatcell Solar Materials, a manufacturer of specialty chemicals, would not be affected by the insolvency proceedings.
Funding issues were said to have increased recently, due to ‘red tape’ and changes to R&D rebates in Australia.
R&D grants had been a key source of operational funding, despite the company being publicly listed and having a major investor in the form of Saudi Arabian industrial firm, Tasnee.
Feb 16, 2021
This session will explore the ongoing opportunities in the battery storage market and look at what trends we expect to see develop in the near to mid-term future for the marketplace. We will also look at what challenges face developers in this space and best practice advice for delivering multiple successful projects. Speakers: Tony Gannon – Head of Project Management, Scottish Power Lauren Cook – Lead Storage Analyst, Solar Media
Mar 09 - Mar 11, 2021
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability. This event will be run online with streamed content and online networking.