WattGlass has secured a Series A round of funding led by material sciences firm, DSM that was said to support its efforts to commercialise its anti-reflective and anti-soiling coating for PV panels. Image: Aurora Solar/PVTech Power
US-based start-up WattGlass has secured a Series A round of funding led by material sciences firm, DSM that was said to support its efforts to commercialise its anti-reflective and anti-soiling coating for PV panels.
WattGlass was one of five winners of the 2016 SunRISE TechBridge Challenge, a competition organized by Royal DSM, Fraunhofer, and Greentown Labs, which concluded in July, 2016. Winners were said to receive Greentown Launch and DSM Partnership/Investment support.
Corey Thompson, CEO of WattGlass said, "DSM is a leader in our market and has extensive experience developing and commercializing material-based solutions for high-tech markets. We are excited to be a winner of the Sunrise challenge that enabled us to receive funding from DSM Venturing. This funding provides us the resources needed to commercialize the research we are conducting under the NSF and DOE grants, and to bring our novel product to customers." WattGlass is looking to establish domestic production of their proprietary chemical blends for shipment to customers worldwide.
The technology development had also been supported by the National Science Foundation (NSF) Small Business Innovation Research (SBIR) program, the Department of Energy (DOE) SunShot program, and the Arkansas Economic Development Commission (AEDC).
DSM Venturing was said to have led the funding round, although the investment amount and investment partners was not disclosed.