Perovskite solar company Tandem PV raises US$ 6m to develop Californian production facility

• 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 constructing a pilot production center in its headquarters of San Jose, California.

US-focused Tandem PV will certainly use this investment to produce its initial commercial grade tandem solar panels intended to furnish clients with more efficient as well as affordable solar energy.

The company is experts in 'ultra-high-efficiency' tandem metal-halide perovskite photovoltaic panels. It transforms silicon photovoltaic panels into high-efficiency tandems by leveraging perovskite-coated front glass via a drop-in manufacturing replacement.

Tandem PV was co-founded by products scientific research PhD Colin Bailie, who developed the style during his time at Stanford University, as well as solar sector stalwart as well as former CTO of Hanwha Solar Chris Eberspacher.

"We have tremendous market pull from residential solar installers, end users, equipment suppliers as well as utilities-- the market awaits more lasting, efficient and also cost-efficient photovoltaic panels," said founder and also chief executive officer Bailie.

"Tandem PV gets on a fast lane to create, show and also commercialise perovskite and also silicon tandem solar panels for houses across the USA as well as worldwide," said Eberspacher.

The round was led by Bioeconomy Capital, an early-stage venture capital company, with its brand-new Planetary Technologies fund, with involvement from an international solar producer and an US utility company, Tandem claimed in a media release.

There have been a number of noteworthy news in the perovskite modern technology space recently, which some see as the future of solar as well as think it has the potential to outperform present effectiveness ratings.

At the start of this month, battery storage space supplier NGK Insulators bought EneCoat Technologies, a Perovskite-focused spin-out of Kyoto University.

In March, researchers at the Polytechnic University of Milan claimed the chemical process of halogen bonding can help enhance the performance of perovskite-based solar cells, enabling them to achieve high degrees of effectiveness as well as high stability.

As well as, in February, researchers in Saudi Arabia reported "the very first" successful damp-heat test of perovskite solar cells, which they claimed relocated the modern technology more detailed towards commercial viability after it endured 1,000 hrs of harsh problems and also maintained a 95% effectiveness.