FFI, Teslin invest in flexible PV modules manufacturer HyET Solar

• Dutch investment fund Teslin Participaties has joined Fortescue Future Industries (FFI) in supplying development capital to HyET Solar, a Dutch programmer of flexible and lightweight solar photovoltaic or pv (PV) innovation.

Arnhem-based HyET Solar is the producer of Powerfoil, a lightweight, totally flexible, thin-film solar PV module that is specifically suitable for low-load as well as bent surfaces, consisting of the roofing systems of circulation centres, football stadiums as well as gasoline station. The firm hopes that the item will reach disruptive price degrees through the scale-up of its trademarked roll-to-roll manufacturing process.

According to a recent announcement, Teslin and also FFI will proactively support HyET Solar in the roll-out of a PV manufacturing facility in the Netherlands with an organized annual production capacity of at the very least 40 MW. The two investors will certainly also assist business in attaining future development, with a concern option being an initial public offering (IPO) on a major stock market in a few years.

FFI, which is the green power organization of Australian iron ore business Fortescue Metals Group Ltd (ASX: FMG), has been a capitalist in HyET Solar considering that mid-2020. The brand-new purchase will certainly raise FFI's minority shareholding in the firm. It anticipates HyET Solar's innovation to be utilized in the manufacturing of green hydrogen.

"Fortescue Future Industries is focused on providing 15 million tons per year of green hydrogen worldwide by 2030. [...] We are working with HyET Solar to guarantee we have the best as well as most effective solar modern technology at our fingertips to generate the degree of green hydrogen the world requires. Currently we have a memorandum of understanding in place with E.ON to provide Germany with 5 million tons per annum by 2030," commented Julie Shuttleworth, Chief Executive Officer of FFI.