Oxford PV raises US$41m funding

Facebook
Twitter
LinkedIn
Reddit
Email

Perovskite solar cell firm Oxford PV has raised £31 million (US$41 million), with Chinese wind turbine firm Goldwind joining as a major new investor.

The latest round of backing also includes funds from existing investors Equinor and Legal & General.

Oxford PV said the money would push the company into its commercial phase. It has been preparing a switch to large-volume manufacturing, having built a pilot line at a former Bosch site in Germany.

“Goldwind’s investment in Oxford PV and the continued support of our existing shareholders, demonstrates the confidence in our technology and its commercial readiness,” said Frank P. Averdung, CEO, Oxford PV. “We are delighted to have investors that recognise the capability of our perovskite solar cell technology to transform the performance of silicon-based photovoltaics and the role it will play in the global transition to a clean energy future.”

In June the firm has reported a new perovskite tandem solar cell efficiency record of 27.3%, certified by Fraunhofer ISE.

The series-D funding round almost doubles the cumulative money raised by the firm in the past.

“Goldwind’s investment in Oxford PV supports our commitment to innovation that delivers clean, cost-efficient renewable energy,” said Xiao Zhiping, VP, Goldwind. “It is our belief that photovoltaics and wind power will become an increasingly important part of the global energy mix, over the next 20 years. We have been impressed with Oxford PV, their perovskite photovoltaic technology and the pace of their progress, and we look forward to supporting the company going forward.”

Source: Oxford PV
14 March 2023
PV CellTech will be return to Berlin on 14-15 March 2023 and looking at the competing technologies and roadmaps for PV cell mass production during 2024-2026.
28 June 2023
Join us in London for 2 days as we look at the UK’s new landscape for utility & rooftop solar. Understand the new opportunities within this GW-plus annual market!

Read Next

November 24, 2022
Canadian investor Ontario Teachers’ Pension Plan Board has signed an agreement to invest US$805 million in a convertible equity portfolio financing with NextEra Energy Partners to help it acquire a 2GW portfolio of solar, storage and wind assets across the US.
November 23, 2022
Europe will benefit from a new research and innovation (R&I) project intended to advance the continent’s tandem solar PV cell manufacturing and production capabilities, focusing on tandem silicon-perovskite cells.
November 23, 2022
LONGi Green Energy Technology has signed an investment agreement to set up a 10GW monocrystalline module manufacturing facility in China’s Guangdong Province.
Sponsoredtrue
November 23, 2022
Newly launched solar inverter and solutions provider Solinteg has launched a range of new PV products in recent months as it expands its international presence and targets 2GW of production capacity next year, rising to 10GW in 2025.
November 22, 2022
A subsidiary of polysilicon producer Daqo New Energy has signed a five-year polysilicon supply agreement with an undisclosed solar manufacturing company in China.
PV Tech Premium
November 21, 2022
Qcells has its eye on the US with several recently announced plans for large investments in manufacturing, but it is also rebranding away from pure module manufacturing to also offer holistic home energy solutions with a push in the UK market.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 29, 2022
Malaga, Spain
Solar Media Events
February 22, 2023
Leonardo Royal Hotel London Tower Bridge
Solar Media Events
March 14, 2023
Berlin, Germany
Solar Media Events
March 21, 2023
Lisbon, Portugal
Solar Media Events
June 6, 2023
Napa, USA