Belgium-based PV encapsulant materials developer, NovoPolymers has secured a new round of investment, led by nanotech VC specialist, Capital-E. Financial details were not disclosed.
NovoPolymers said the investment round was needed as it repositioned the company to include marketing glass-glass tailored encapsulants for launch in the first quarter of 2014, which will include outsourcing of production.
“Our new technologies are keeping pace with the high requirements of module innovation. Product line extensions are geared to support a higher efficiency at lower cost” said. Koen Hasaers CEO of NovoPolymers. “Relying on our robust expertise, NovoPolymers targets new high end encapsulant solutions, and is in the final stage of testing glass-glass tailored encapsulants for launch in Q1 2014. In our technology pipeline both niche and mass applications are supported such as new thin
film encapsulants, and EVA alternatives.”
Sofie Baeten, Partner of Capital-E said, “NovoPolymers has opted to use the current industry downturn to focus on new R&D tracks to strengthen its encapsulant portfolio with breakthrough innovative products aiming at increasing the power output of a solar module. Moreover, this is complemented with a major initiative of redirecting and controlling global supply through local manufacturing by judiciously chosen subcontractors. This lean strategy based on a solid foundation of R&D capabilities has convinced us to participate in this exciting venture.”
Capital-E led the latest investment round, joined by existing investors Gimv, Capricorn Cleantech Fund, Federale Participatie- en Investeringsmaatschappij (SFPI-FPIM).