Thin film solar manufacturer gets backing from Fortescue, eyes listing

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Forestcue’s investment will help HyET Solar build a solar PV factory in the Netherlands with a production capacity of 40MW annually. Image: HyET Solar.

Dutch thin film manufacturer HyET Solar has received backing from Australian green hydrogen producer Fortescue Future Industries (FFI) and Dutch investment fund Teslin Participaties that will help in the construction of its solar PV factory.

The Dutch manufacturer will also be eyeing to go public on the Amsterdam stock exchange to further raise more capital and continue the global growth of the company.

Moreover, the scale-up of its production facility in the Netherlands will make it capable of producing at least 40MW of its flexible thin film modules annually.

Last year FFI acquired a 60% stake in HyET Group, the parent company of HyET Solar, and its recent investment in HyET Solar is intended to build a production factory in Australia using HyET Solar’s flexible technology that will be deployed in the production of its green hydrogen projects by 2030.

Other shareholders in HyET Solar are SuperNova Technologies NV (the founding partner of HyET Solar), and Royal Vopak of Rotterdam.

Rombout Swanborn, founder and director of HyET Solar, said: “HyET Solar has the ambition to manufacture at large scale very low-cost PV products offering innovative application possibilities. HyET Solar products are light weight, flexible and based on Thin Film Silicon and Perovskite technologies.”

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