Sol Voltaics closes US$21.3 million in new funding to commercialise GaAs nanowire film

Facebook
Twitter
LinkedIn
Reddit
Email
The record round of funding secured by Sol Voltaics is intended to accelerate the commercialization of its technology, claimed to enable PV module conversion efficiencies of up to 27% when integrated as a tandem-junction module. Image: Sol Voltaics

Sweden-based solar cell nanowire materials start-up Sol Voltaics has secured US$21.3 million in a new funding round just a month after claiming a key breakthrough in commercializing its gallium arsenide (GaAs) nanowire film for crystalline silicon solar cells.

The record round of funding secured by Sol Voltaics is intended to accelerate the commercialization of its technology, claimed to enable PV module conversion efficiencies of up to 27% when integrated as a tandem-junction module.

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 latest investment round includes Norway-based Watrium AS, alongside previous investors Kagra Gruppen AS, Nordic VC firm Industrifonden, FAM AB, Nano Future Invest, Blue Marlin AB and Teknoinvest AS. 

Sol Voltaics said that it had raised US$38 million in the past 12 months, following the company’s US$17 million funding round in 2016.

“This latest round of finance gives us the critical capital required to commercialize our efficiency boosting technology for the solar market,” said Erik Smith, Sol Voltaics CEO. “Having achieved our final major technology milestone with Aerotaxy earlier this year, we are now fully focused on reaching mass production of SolFilm. I’d like to thank our investors, both existing and new, for backing our vision and helping bring this revolutionary technology to the mass market.”

Sol Voltaics expects samples of its ‘SolFilm’ to be sent to partners by the end of 2018.

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 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.

Read Next

September 18, 2025
Researchers have called for enhanced international standards to detect ultraviolet-induced degradation (UVID) in PV modules after identifying “severe” levels of the problem in operational n-type panels.             
September 17, 2025
Chinese module producer DAS Solar is planning a 5GW manufacturing facility focused on producing high-efficiency back contact cells.
September 11, 2025
US cell manufacturer ES Foundry is proceeding with expansion plans despite a six-month delay due to recent trade and tax credit policy uncertainties.
Premium
September 11, 2025
PV CellTech USA: US cell manufacturer ES Foundry’s CEO Alex Zhu discusses his company's rapid ascent, strategic technology choices and the challenges of operating in a shifting policy environment.
September 5, 2025
Scientists from Germany and Saudi Arabia have discovered that perovskite thin-film cells are compatible with current industry standard silicon solar cells, which they claim is a “crucial step toward the industrialisation of perovskite silicon tandem solar cells”.
September 2, 2025
The Fraunhofer Institute for Solar Energy Systems (ISE) will build a pilot solar cell line in Germany to support US manufacturer Talon PV’s efforts to establish solar cell capacity in the US.

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