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

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 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.  

27 June 2024
9am BST
FREE WEBINAR -This special webinar will take a deep dive into the latest PV ModuleTech Bankability Ratings pyramid, capturing the relative bankability status of the top 70-80 PV module suppliers globally. In addition to revealing the latest ranking of global PV module suppliers, PV Tech’s Head of Research, Finlay Colville, will show the depth of analysis and commentary included within the report for module suppliers. A key output from the webinar will be to learn which PV module suppliers have moved up the rankings pyramid in recent years and why this growth has been achieved. Conversely, some of the companies that have fallen down the rankings will be discussed, in particular those suffering from market-share losses and financial problems.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
11 March 2025
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

Read Next

June 25, 2024
GreenRock Energy has formed a partnership with Malaysian solar company Solarvest to develop 1GW solar PV projects in Taiwan and Malaysia.
June 25, 2024
The Japanese government needs to triple its installed renewables capacity to at least 363GW by 2035 to achieve its 2050 net zero target.
June 25, 2024
The New York Public Service Commission (PSC) has approved solicitations for onshore renewable energy projects and large-scale energy storage, to guide the state to its 2030 energy storage policy target.
June 25, 2024
New modelling shows that electrification and flexibility can slash average day-ahead energy prices by 25% by 2030, and by 33% by 2040.
Sponsored
June 24, 2024
During SNEC 2024, PV Tech spoke with Chuan Lu, chairman and CEO of Astronergy, about the company’s strategy and shipment forecast.
June 24, 2024
The Intersolar Europe 2024 trade show closed its doors for another year on Friday (21st June). Ahead of further coverage and interviews from the conference, this piece will collate a few of the key takeaways that we saw on the ground at the show last week.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Upcoming Webinars
July 10, 2024
9am (BST) / 10am (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland