Norwegian investor Magnora increases stake in perovskite specialist Evolar

Facebook
Twitter
LinkedIn
Reddit
Email
Image: Evolar

Renewables investor Magnora AG has said it will increase its investment in perovskite solar specialist Evolar, taking a 40.7% stake in the company.

Mats Ljunggren, Evolar’s chief executive, said the company’s next-generation solar cells have “Much higher efficiency for about the same per-watt manufacturing cost” as traditional technologies.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The Norwegian investor first bought a 28.44% stake in Evolar last November in a deal that included options to acquire up to 63.5% of the company at a later date. The startup, which owns R&D prototype equipment to scale and test cells, was spun-out of Uppsala University’s thin film solar cell research cluster in Sweden.

Anders Hagfelt, vice chancellor of Uppsala University and a scientific advisor to Evolar, said that perovskite technology “is ripe for commercialization,” which Evolar hopes to achieve through Magnora’s investment.

Perovskite solar cells have become an attractive research topic in recent months after both the European Commission and US Department of Energy (DOE) pledged to support the growth of their own domestic renewables manufacturing bases, with the DOE setting aside US$40 million for research and development into perovskite solar technologies. Four university-led studies have been published this year that focus on making the high-efficiency but short-life material more durable, including one from Queensland University of Technology (QUT), where scientists used hair clippings to form an “armour” to increase its power conversion efficiency.

Read Next

May 28, 2025
The expansion is 100% compliant with the Indian government's requirement of Bureau of Indian Standards (BIS).
May 28, 2025
ISC Konstanz is working with US solar cell manufacturer Suniva on its 1GW silicon solar cell production facility in the state of Georgia.
Premium
May 27, 2025
Inverters are critical to PV systems but are often over-specified due to inadequate data on which materials and designs optimise performance.
May 21, 2025
The US International Trade Commission has voted unanimously to impose AD/CVD tariffs on solar cells from Southeast Asia.
May 15, 2025
Qcells claims its perovskite/silicon tandem technology has moved a step closer to commercialisation after passing several reliability tests.
Premium
May 14, 2025
As the University of Queensland take the first steps towards commercialising a tin halide perovskite solar cell concept, George Heynes explores the development of the technology.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 8, 2025
Asia