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Friday, 22 Jun 2018

Oxford PV granted €15m investment from European Investment Bank

The investment will be used to support the commercialisation of perovskite on silicon tandem solar cell technology


20 Dec 2017 | Editor

Oxford Photovoltaics Germany GmbH, a subsidiary of Oxford PV, has announced they have received an EU bank financing of €15 million, to support the transfer of its perovskite on silicon tandem solar cell technology from lab scale to commercialisation.

The European Investment Bank (EIB) funding, awarded to Oxford PV Germany GmbH, is the first financing in Germany under the InnovFin - EU Finance for Innovators' Energy Demonstrator Projects', with the financial backing of the European Union under Horizon 2010 Financial Instruments - aimed at supporting European innovators such as Oxford PV, tackling tomorrow’s challenges and supporting climate action.

"I am delighted to sign the contract with Oxford PV today. The company has demonstrated the necessary parameters in efficiency and stability on its perovskite photovoltaic technology, to engage commercially with major industry players and play a key role in enhancing solar energy supply in the future."


Ambroise Fayolle, Vice-President of the EIB responsible for Germany and InnovFin

"The EIB financing recognises our considerable progress to date and the opportunity our disruptive perovskite solar technology has to dramatically transform silicon solar cell economics. The funding will allow Oxford PV to continue to invest in its demonstration line infrastructure, in Brandenburg, Germany, enabling the company to continue the rapid transfer of its perovskite on silicon tandem solar cell technology from the lab to an industrial scale process in collaboration with our joint development partner – a large scale manufacturer of solar cells and modules."


Frank P. Averdung, Chief Executive Officer at Oxford PV

www.oxfordpv.com    www.eib.org   


About Oxford Photovoltaics

Oxford Photovoltaics Ltd (Oxford PV) is a pioneering solar technology company that was founded in 2010 as a spin-off from the University of Oxford by Professor Henry Snaith. Today, the company’s team of 37 people, including chemists and advanced materials scientists are on a fast-track to commercialising a new perovskite-based technology. Last year, Professor Snaith was honoured by Thomson Reuters as the second most influential scientific mind in the world. The company believes that this technology will enable cell manufacturers in the US$100bn solar power industry to boost the performance of their solar cells by around 30 per cent and facilitate new multi-billion dollar markets for the generation of solar power.

Source: Oxford Photovoltaics


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