Swedish PV cell modern technology company raises US$ 19m for product development and also roll-out

• Swedish dye-sensitised solar cell (DSSC) business Exeger has actually increased SEK178.9 million (US$ 19 million) to support the continued roll-out of its flexible solar cell modern technology, Powerfoyle.

Exeger made a decision to issue up to 1,118,125 brand-new shares at a rate of SEK160 (US$ 17.2) per share, accruing a total of US$ 19 million that will certainly also be made use of assistance capability investments to allow further manufacturing ramp-up.

The company had formerly stated that a planned 2nd manufacturing facility opening in the Swedish capital of Stockholm would certainly allow it to boost its manufacturing capacity tenfold by 2023.

"When the moment is right, we will certainly raise additional funds to increase our international roll-out. Our vision is ambitious: to touch the lives of a billion individuals and also build the future generation of Swedish industry", claimed Exeger CEO Giovanni Fili.

In May last year, Exeger increased US$ 38 million from Swedbank and also Swedish Export Credit Corporation, which adhered to a US$ 20 million raise in 2019.

The business declares that its Powerfoyle technology can "change any type of indoor and also outdoor light into clean, unlimited energy" without the demand for straight sunshine using a 'solar skin'.