NexWafe raises €10 million in a new Series B round of funding

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
NexWafe has raised €10 million in a new Series B round of funding from some of its previous backers as well as new investors as the company moves to another pilot production phase. Image: NexWafe

Fraunhofer ISE spin-off NexWafe has raised €10 million in a new Series B round of funding as the company moves to another pilot production phase.

NexWafe produces high-efficiency monocrystalline n-type wafers that are grown directly (Epitaxy) from chlorosilane and are made kerfless, unlike p and n-type monocrystalline wafers. Emphasis is now being placed on next-generation ultra-thin and tandem solar cell architectures that its wafers can be used for. 

Investors in the latest Series B round of funding has included Fraunhofer ISE and Saudi Aramco Energy Ventures, which were investors in the previous round in early 2019. New investors included GAP Technology Holding, Lynwood Schweiz AG and Bantina Invest Limited.

Meanwhile the start-up also announced that Peter Pauli would step down as chairman of the board of directors to devote more time to other commitments, but would continue as a shareholder.

“Helping to lead NexWafe on its transition from an academic spin-off to its emergence as a technology product company was a great honor,” noted Pauli. “NexWafe’s EpiNex wafers are a key element of the future solar market, as the industry strives to meet expectations in terms of costs and PV efficiency.”

Read Next

June 16, 2021
A round-up of the latest stories from the US solar market, featuring news of Sunnova’s latest securitisation, Ameresco’s installation of solar at a US Air Force Base and Extensible Energy’s latest capital investment.
June 15, 2021
The confidence of renewable energy investors and developers stands at an “all-time high”, a new report by the American Council on Renewable Energy (ACORE) claims, however investment must surge in the coming years if the US is to meet decarbonisation goals.
June 14, 2021
Mozambique-based coal operator Ncondezi Energy has announced a joint venture (JV) with South African-based NESA to target South Africa’s C&I solar and storage markets.
PV Tech Premium
June 1, 2021
Liam Stoker explores solar’s role within the International Energy Agency’s net zero roadmap, charting its prospective journey to more than 14.5TW of installed capacity, a global and highly-skilled workforce and trillions of dollars of invested capital.
May 21, 2021
There has been an increase in the share of PV systems in Germany that have an eastern and western orientation, according to new findings from Fraunhofer ISE.
May 18, 2021
Major polysilicon provider Daqo New Energy has reported a rise in revenues as average selling prices (ASPs) inched upward in the opening quarter, however the firm’s ASPs could effectively double in Q2.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021