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Oxford Photovoltaics takes 2015 funding to over £12.6 million with top-up investment
Perovskite solar cell developer Oxford Photovoltaics said it had raised a top-up B round of £4.4 million from a variety of existing investors as well as new sources of funding, bringing its 2015 fundraising total to over £12.6m.
David Smyth, CFO of Oxford PV said, “I am delighted to have raised this additional investment on top of the impressive round earlier in the year. The company is now well capitalised to take our technology through the next stage of development towards commercial deployment.
Read the full report from Solar Power Portal…
Oxford PV is an exciting spin-out from the University of Oxford, based at Begbroke Science Park. Its team of 30 PV and Advanced Materials scientists are developing and commercialising a new perovskite-based technology which will enable solar power to become the mainstream fuel source for electricity.
The company believes that its perovskite-based technology will improve the performance of traditional silicon solar panels by at least 20%, revolutionising this $100 billion market and facilitating new multi-$bn opportunities for the generation of solar power. These include BIPV (building integrated PV) where the company’s technology can be coated onto glass to allow large office blocks to generate their own electricity.
The company has recently (March 2015) completed a funding round, raising £8.2m from an impressive range of new and existing investors.
Perovskite is the fastest improving solar cell technology ever seen and Oxford PV is leading the global development and commercialisation.