Financial

According to a recent announcement, Verde Technologies has attracted investment from multiple venture funds and industry veterans. Most notably, the former CEO of GE Power, Steve Bolze, has joined Verde as an investor and advisor to support the company’s continued growth.

“Verde stood out to me because of the pace at which the team is able to make progress toward changing the solar paradigm. It is clear that solar energy will play a dominant role in the renewable energy transition, especially with the tailwinds of recent legislation such as the Inflation Reduction Act.” says Bolze. “Verde’s team and technology are poised to make solar manufacturing and deployment simpler, lower cost, and more accessible.”

DSCC, a provider of display market research and consulting services, recently published its projections regarding revenues from QDs. According to DSCC, demand for QD materials in the display industry is growing, and the market will grow to $100 million in 2024. It will continue to grow and reach $122 million in 2027. 

DSCC specifically predicts that perovskite materials will capture some market share. It explained that green perovskite is available but red perovskite is still under development, so it is often paired with a red phosphor. The technology is currently in the early stage of commercialization and the supply chain will take some time to build.

According to reports, Japan's government plans to advance perovskite  flexible solar power panels through the country's feed-in tariff system, seeking to encourage investment in the technology. The Ministry of Economy, Trade and Industry plans to set the price of energy produced from perovskite cells at 10 yen (6 cents) per kilowatt-hour or more, higher than the current level for solar power, starting as early as fiscal 2025.

Light, flexible perovskite cells can generate electricity in places where traditional solar panel installation is not feasible, such as building walls and windows. The base technology is Japanese, and Japanese companies are involved in vigorous R&D with emphasis on quality and durability. At the same time, Chinese companies have begun mass production and are leading in commercialization.

Solaires Entreprises, a cleantech startup that develops high power conversion efficiency photovoltaic modules, has announced a Joint Venture with Genesis Technologies, a Shanghai based manufacturer. The companies will be working towards mass production of PV modules to replace batteries in indoor electronic devices, as the JV's first phase.

Solaires will provide the technology and Genesis will provide manufacturing as part of the Joint Venture. Genesis Technologies has committed to investing more than $4 Million USD to develop Solaires’ manufacturing site through purchasing production line equipment, carrying out personnel training and executing daily operations for the Joint Venture.

The Dutch government has drafted a public proposal to support the production of heterojunction and perovskite-silicon tandem modules, as well as building- and vehicle-integrated PV panels, with a maximum allocation of €70 million ($75.1 million) per solar manufacturing project. Rijksdienst voor Ondernemend Nederland (RVO), the state-run agency that manages the SDE++ program for renewable energy in the Netherlands, has publicly proposed the idea of supporting the production of solar panels, storage systems and electrolyzers. The new incentive scheme, “Investeringssubsidie maakindustrie klimaatneutrale economie” (IMKE), will fund a portion of the capital expenditure needed to build factories for the three clean energy technologies.

The RVO said that the incentives for the production of PV panels will be limited to products for building-integrated (BIPV) and vehicle-integrated (VIPV) applications, as well as heterojunction modules or perovskite-silicon tandem panels.

TandemPV has raised $6 million, bringing its total to $27 million in venture capital and government support. The Company will use the funds to advance research and development and plans to build its first manufacturing facility.

The funding round was led by existing investor Planetary Technologies, an early-stage venture capital firm with deep expertise in climate tech. Other institutional investors participated, including new investor Uncorrelated Ventures, as well as executives from a variety of corporate sectors and such solar industry leaders as Tom Werner, former chairman, president and CEO of SunPower Corp.

Chinese energy company Akcome has announced an investment of approximately 1 billion RMB (~USD 140 million) to establish a research and production base for heterojunction-perovskite tandem solar cells.

The initiative will be led by Akcome’s wholly-owned subsidiary, Zhejiang Akcome Future Technology Co., Ltd., in collaboration with the Hangzhou Qianjiang Economic Development Zone Management Committee.

According to recent reports, China-based Xi'an Tianjiao New Energy has obtained nearly 100 million yuan (over USD$14,100,00) in angel round financing, led by Winreal Investment. The funds will primarily be used for building a perovskite pilot production line with a capacity of 10MW alongside other operational expenses covering consumables and staff.

Tianjiao, a perovskite solar cell developer, specializes in manufacturing single-cell perovskite modules including both flexible and rigid types. The rigid modules find their use primarily in PVBI, whereas the flexible ones are mounted on car roofs or used in 5G base stations.

French PV module manufacturer Voltec Solar has secured €9.3 million ($10.1 million) from Ademe, France’s environmental agency. The company plans to use the funds to accelerate the production of perovskite-silicon tandem solar panels.

The French manufacturer currently operates two 250 MW production lines at its factory in Dinsheim-sur-Bruche, France.

France-based Armor Group has acquired a 20% stake in French solar module maker HoloSolis. 

In 2025, HoloSolis plans to open a TOPCon PV cell and panel factory in France. At full capacity from 2027, the factory is expected to employ 1,700 people and produce 10 million modules per year, for a total capacity of 5 GW per year. HoloSolis is also working on the next generation of solar panels and the perovskite-silicon tandem cells.