1366 Technologies as well as Hunt Perovskite merge, secure US$ 25m in funding
- US-based wafer manufacturer 1366 Technologies has merged with Hunt Perovskite Technologies (HPT), with the combined firm preparing to offer market tandem modules.
Called CubicPV, the brand-new entity incorporates 1366's 'Straight Wafer' procedure, which creates a silicon wafer straight from molten silicon rather than sawing one from an ingot, as well as HPT's perovskite solar technology, as they aim to enhance the efficiency of tandem modules.
The consolidated business will initially seek to supply modules for the roof solar segment and inevitably for the utility-scale market, Frank van Mierlo, Chief Executive Officer of 1366 Technologies as well as CubicPV, told PV Tech.
"Our particular 'Straight Wafer' process is the critical advantage in making tandem modules a truth, and also with the HPT merger, we have the plan for attaining financially feasible tandem options," he claimed.
Hunt Perovskite Technologies is just one of 22 firms that secured funding from a United States Department of Energy programme concentrated on perovskite PV research and development. The firm was awarded US$ 2.5 million through the initiative to show sturdy and lead-safe perovskite solar PV modules using its slot-die finishing production procedure.
Along with the merger, CubicPV will certainly get US$ 25 million in financing from Bill Gates' Breakthrough Energy Ventures, First Solar, Hunt Energy Enterprises and others to help the company scale.
Having actually formerly operated a pilot plant in Malaysia, the brand-new firm currently prepares to invest US$ 300 million to establish a 2GW wafer and cell production factory in India, as well as watches for neighborhood partners.
"We are proactively checking out possibilities in India presently, as well as we're working very closely with the Indian federal government that has actually implemented a collection of attractive rewards," van Mierlo said.
The business will aim to relate to India's production-linked reward programme, which will certainly see greater than US$ 600 million designated over 5 years to back the growth of high-efficiency PV modules in the country.
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