Updated: Perovskite solar cell developer, Oxford PV is to become a merchant heterojunction with perovskite top cell manufacturer with orders placed with Meyer Burger that will provide an initial 250MW of cell capacity that will enter production by the end of 2020.
Oxford PV’s previous business model had focused on the IP model, undertaking evaluation work for solar cell producers, looking at adopting perovskite-on-silicon tandem solar cell technology.
The company has previously secured £31 million in a Series D funding round in March, 2019 totalling or manufacturing capital expenditure requirements. The additional funds included new investment from leading PV equipment manufacturer, Meyer Burger as well as investments in the round from other non-specified new and existing investors.
The funding was to support a 200MW HJ/perovskite cell line, thought to enhance its IP model for potential customers taking licenses for the technology and future R&D requirements at real world manufacturing levels as well as continued cell efficiency roadmap gains for continued customer support.
The perovskite solar cell developer said that it had placed a manufacturing equipment order with Meyer Burger for a turnkey 100MW silicon heterojunction solar cell line that would shortly be followed by a supplementary order for the perovskite top cell production equipment. Phased ordering of equipment over the coming months, will include the order of a second silicon heterojunction solar cell line and associated perovskite top cell production equipment, giving Oxford PV an initial nameplate capacity of 250MW at its manufacturing facility in Brandenburg an der Havel, Germany.
Frank P. Averdung, Chief Executive Officer at Oxford PV commented, “With our first order placed, we are well on our journey to becoming the world’s first perovskite-on-silicon tandem solar cell manufacturer. We are delighted to be working with Meyer Burger – a world leading photovoltaic equipment and technology supplier. Building on Meyer Burger’s expertise, we are accelerating the time to market for our perovskite-on-silicon tandem solar cells.”
Meyer Burger separately said that current contract volume with Oxford PV was approximately CHF 20 million.
Hans Brändle, CEO of Meyer Burger, stated: “With Oxford PV’s leading edge tandem cell technology and our capabilities to industrialize high-efficiency PV processes, we have formed the ideal partnership to accelerate its industrialization and set the pace for this next generation PV technology.