Oxford PV raises £31 Million funding

Oxford PV recently announced first close of Series D funding round, attracting major new investment and continued support from existing shareholders. The Company raised £31 Million - around $41 Million USD.

The round includes a major new investment from Goldwind, the leading provider of integrated renewable energy solutions in China, as well as investment from existing shareholders including Equinor and Legal & General Capital.

The funding will allow Oxford PV to move its perovskite-based solar cell technology into the commercial phase. In the last 12 months, Oxford PV's perovskite-on-silicon solar cell set a certified world record efficiency. Its technology passed key reliability tests in line with the IEC 61215 protocol and the company's pilot line is routinely producing commercial sized tandem solar cells for validation by its development partner ' a major silicon solar cell and module manufacturer.

Frank P. Averdung, Chief Executive Officer at Oxford PV commented, 'Goldwind's investment in Oxford PV and the continued support of our existing shareholders, demonstrates the confidence in our technology and its commercial readiness. We are delighted to have investors that recognize the capability of our perovskite solar cell technology to transform the performance of silicon-based photovoltaics and the role it will play in the global transition to a clean energy future.'