TandemPV Secures $6M to Revolutionize Perovskite PV Market

• TandemPV secures $6 million in funding, reaching a total of $27 million, to fuel research, development, and establish its first manufacturing facility. With 26% efficiency, their perovskite panels offer cost-effective power solutions.

TandemPV has raised $6 million in funding, bringing its total to $27 million. The company plans to use the funds to advance research and development and build its first manufacturing facility. The funding round was led by existing investor Planetary Technologies, with participation from other institutional investors and solar industry leaders.

Tandem PV is known for producing tandem perovskite panels with 26% efficiency, which allows for more power at the same price per watt. This leads to lower labor costs for installation, lower land-acquisition costs, and a lower total cost of ownership for customers. The company plans to obtain independent industry-standard validation of efficiency and durability in 2024.

What are the plans for TandemPV after raising $6 million in funding?

• TandemPV will allocate a significant portion of the raised funds towards research and development activities.
• The company aims to further enhance the efficiency of its tandem perovskite panels beyond the current 26% mark.
• TandemPV plans to invest in cutting-edge manufacturing technologies to establish its first manufacturing facility.
• The funding will enable the company to scale up its production capacity and meet the growing demand for its high-efficiency panels.
• TandemPV intends to collaborate with industry experts and independent testing laboratories to obtain industry-standard validation of the efficiency and durability of its panels by 2024.
• The company aims to establish itself as a leading player in the solar industry by offering cost-effective solutions that reduce labor costs for installation and lower the total cost of ownership for customers.
• TandemPV plans to expand its market reach and establish strategic partnerships with solar industry leaders to accelerate the adoption of its tandem perovskite panels.
• The raised funds will also be utilized to strengthen the company's intellectual property portfolio and protect its innovative technologies.
• TandemPV intends to contribute to the global transition towards renewable energy by providing efficient and sustainable solar solutions.