Perovskite solar company Tandem PV raises US$6m to build Californian manufacturing facility

Facebook
Twitter
LinkedIn
Reddit
Email
Tandem PV specialises in ‘ultra-high-efficiency’ tandem metal-halide perovskite solar panels. Image: Tandem PV.

US perovskite company Tandem PV has closed on the first half of a US$12 million Series A raise after raising US$6 million for building a pilot manufacturing facility in its headquarters of San Jose, California.

US-focused Tandem PV will use this investment to manufacture its first commercial grade tandem solar panels intended to equip customers with more efficient and affordable solar energy.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The company specialises in ‘ultra-high-efficiency’ tandem metal-halide perovskite solar panels. It changes silicon solar panels into high-efficiency tandems by leveraging perovskite-coated front glass via a drop-in manufacturing replacement.

Tandem PV was co-founded by materials science PhD Colin Bailie, who developed the design during his time at Stanford University, and solar industry stalwart and former CTO of Hanwha Solar Chris Eberspacher.

“We have tremendous market pull from residential solar installers, end users, equipment distributors and utilities – the industry is ready for more sustainable, efficient and cost-effective solar panels,” said co-founder and CEO Bailie.

“Tandem PV is on a fast track to develop, demonstrate and commercialise perovskite and silicon tandem solar panels for homes across the United States and worldwide,” said Eberspacher.

The round was led by Bioeconomy Capital, an early-stage venture capital firm, through its new Planetary Technologies fund, with participation from an international solar manufacturer and a US utility company, Tandem said in a media release.

There have been a number of notable announcements in the perovskite technology space recently, which some see as the future of solar and believe it has the potential to outperform current efficiency ratings.

At the start of this month, battery storage manufacturer NGK Insulators invested in EneCoat Technologies, a Perovskite-focused spin-out of Kyoto University.

In March, researchers at the Polytechnic University of Milan said the chemical process of halogen bonding can help improve the performance of perovskite-based solar cells, enabling them to achieve high levels of efficiency and high stability.

And, in February, researchers in Saudi Arabia reported “the first ever” successful damp-heat test of perovskite solar cells, which they claimed moved the technology closer towards commercial viability after it withstood 1,000 hours of harsh conditions and maintained a 95% efficiency.  

Read Next

September 17, 2025
Spanish renewables developer and operator Acciona Energía has commissioned its 412MWp Juna solar PV plant in Kawani village in the western state of Rajasthan. 
September 17, 2025
Nexamp has secured US$350 million through a long-term financing facility to expand its 6GW utility-scale solar and battery storage pipeline in the US. 
September 17, 2025
QatarEnergy has signed an EPC agreement with Samsung C&T for its 2GW Dukhan project. 
Premium
September 17, 2025
PV CellTech: Martin Pochtaruk, CEO of North American solar module manufacturer Heliene, says US producers must learn to survive without tax incentives.
September 16, 2025
Sunotec has launched Sunotec Nordic to spearhead solar and hybrid renewable project development across the Nordic region.
September 16, 2025
IB Solar is investing INR30 billion (US$340 million) in a 4GW TOPCon solar cell and module manufacturing plant in Jewar, Uttar Pradesh.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA