EneCoat Technologies secures investment from Mitsubishi Materials and NGK Insulators

After securing an investment from SPARX Group's Mirai Creation Fund III last month, Japan-based EneCoat Technologies, developer of materials for perovskite solar cells, has received an undisclosed sum from Mitsubishi Materials and NGK Insulators.

This is Mitsubishi's second investment in EneCoat, following the one in May 2020 through its MMC Innovation Investment Limited Partnership (CVC). Mitsubishi says it aims to strengthen the relationship with EneCoat through this additional financing to work on the development of materials for the electron transport layer. Mitsubishi is already collaborating with EneCoat on its R&D.

NGK Insulators, a Japanese network-attached storage (NAS) specialist, has acquired an unspecified stake in EneCoat Technologies, that develops perovskite solar cells through a wet process based on organic chemistry, a low-temperature coating process and roll-to-roll printing.

'NGK is using this investment to work on establishing production technologies that will contribute to improving the quality of PSCs, seeking to discover the possibilities of working with NGK's various types of storage batteries,' NGK Insulators said.

Japan-based Green Science Alliance, which specializes in the development of electrode materials for solar cells, also invested an unspecified sum in Enecoat in 2021.

Posted: Apr 13,2022 by Roni Peleg