UK-based Oxford Photovoltaics, founded in 2010 as a spin-off from the University of Oxford, has announced an equity investment of £8.7 million (around US $10.6 million), provided by a combination of new and existing shareholders as the first portion of a Series C funding round. Further investment is expected before the end of 2016.

The funding will be used to help extend Oxford PV's position in the use of its perovskite technology to significantly enhance the performance and economic returns achievable from existing solar PV technologies. A portion of the funding has already been earmarked to develop a demonstration line to showcase the technology to manufacturers, bringing the firm one step closer to commercialization.In October 2015, Oxford PV raised £4.4 million (US $6.6 million) in a "top-up" Round B to continue its work in commercialization of perovskite technology.

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