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.  

Read Next

July 4, 2025
Australian retailer AGL Energy has confirmed its acquisition of South Australia’s Virtual Power Plant (SAVPP) from Tesla.
July 3, 2025
Malaysian engineering and infrastructure giant Gamuda has expanded its presence in the Australian renewables sector by partnering with Tasmanian landowners to build a 1.2GW portfolio, which includes solar PV.
Premium
July 2, 2025
ANALYSIS: China's leading PV manufacturers are locked in a new round of competition, aiming to outpace each other through record-breaking feats.
July 2, 2025
Indigenous-led renewable energy company Yindjibarndi Energy Corporation (YEC) has submitted plans for a hybrid wind and solar PV renewable energy project to the Australian government’s Environment Protection and Biodiversity Conservation (EPBC) Act.
July 2, 2025
Robotics company Luminous has received AU$4.9 million (US$3.2 million) via Australia’s Solar ScaleUp Challenge to support deploying its ‘LUMI’ technology at utility-scale solar PV power plants.
June 30, 2025
Voting on the US tax reconciliation bill is expected to begin in the Senate today, following a draft published on Friday that hit clean energy tax credits hard.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK