Financial

Dazheng (Jiangsu) Micro-Nano Technology, a developer of perovskite thin-film solar modules and precision manufacturing equipment, has completed its A4 funding round, according to recent business registration updates. The round includes participation from Fujian Industrial Investment, which contributed RMB 598,900 in exchange for a 3.05% equity stake.

The capital raised is being directed toward the construction of what the company describes as the world’s first 100 MW production line dedicated to flexible perovskite modules. Once operational, the facility is expected to reach an annual output exceeding 800,000 square meters of modules. At full capacity, the production line could generate annual revenues in the hundreds of millions of yuan, marking a significant step toward commercialization of flexible perovskite technology.

Perovskia Solar has announced that it has been awarded a €2.25 million grant from the European Innovation Council (EIC) Accelerator, alongside a potential equity investment from the EIC Fund. The Swiss company, which develops and manufactures custom perovskite solar cells for indoor applications, says this dual support will help accelerate its scale-up and strengthen its position in the indoor photovoltaics market.

In addition to the non-dilutive grant, the EIC Fund has indicated its intention to co-invest in Perovskia’s upcoming financing round, with the potential to match up to 50% of the round subject to due diligence. The EIC Accelerator is considered one of Europe’s most competitive funding programs for deep-tech innovation, with a selection rate of around 5-7%.

Halocell Energy recently secured a financial boost from the Australian federal government to scale up production of its indoor perovskite PV modules.

The company has been awarded AUD 606,680 under the Australian Government’s Industry Growth Program to expand its perovskite PV manufacturing capabilities and upgrade its production facility in Wagga Wagga, New South Wales. The new funding will support an increase in annual output of Halocell’s indoor perovskite PV modules from around 7,000 units today to approximately 100,000 units per year.

Hanwha Solutions has reduced its recently announced contested rights offering, but refrained from reducing Qcells’ tandem investment plan.

Hanwha’s board approved a new 1.71 trillion won capital raise, down from 1.8 trillion won in the previous revision and 2.4 trillion won in the original March plan. The cuts came mainly from the financing structure and debt-repayment portion, while the 907.7 billion won allocation for perovskite tandem and related solar manufacturing investment was left unchanged.

First Solar’s recent earnings provided several updates, highlighting a company that is financially confident while steadily increasing its bets on next‑generation technologies, especially perovskites. The company's net sales reached 1.0 billion USD in the first quarter, the company’s strongest Q1 on record, with module volumes up more than 30% year over year. Profitability was also notably higher, helped by improved factory efficiency and sharp reductions in freight and warehousing costs, and the company ended the quarter with around 2.4 billion USD in cash and investments, giving it plenty of room to fund new manufacturing lines and R&D.

R&D spending rose to 67 million USD in the quarter, up 15 million USD from a year earlier, with management explicitly tying this increase to perovskite development and the rollout of its CURE (CuRe) technology. Rather than treating these as short‑term expenses, the company framed them as deliberate, strategic investments aimed at maintaining a technological edge beyond its current CdTe platform.

Japan-based NPC Corporation has announced that it has completed an equity investment in Gosan Tech, a South Korean manufacturer of inkjet coating equipment. NPC and Gosan signed a business cooperation agreement in September 2025 to jointly promote their technologies. Since then, the two companies have secured several project orders and expanded cooperation in equipment development and production.

NPC's investment is meant to strengthen technical collaboration, establish a stable supply system for coating equipment, and enhance competitiveness in the growing perovskite market. The partnership is expected to cover both business and capital cooperation, including R&D, production, and market expansion. NPC and Gosan plan to target perovskite projects in Japan and the U.S., where demand is rising.

Solar wafer giant TCL Zhonghuan has announced it has completed its planned acquisition of DAS Solar.

TCL now owns 59.14% of DAS, having spent RMB 1.26 buying a mix of newly issued shares and existing shares. It controls a further 7.2% of voting rights that have been delegated to it by other shareholders. The deal gives DAS a valuation of just RMB 2.1 billion – a fraction of the RMB 8 billion it was once value at.

Hanwha Solutions has announced a plan to accelerate its solar technology roadmap, including a significant push into perovskite tandem solar cells. The South Korean energy and materials company approved a 2.4 trillion KRW (≈ US$1.6 billion) rights offering aimed at both strengthening its balance sheet and funding next-generation solar investments.

According to various reports, approximately 1.5 trillion KRW of the raised funds will go toward debt repayment and the remaining funds are earmarked for solar innovation and capacity expansion:

• 100 billion KRW will fund a perovskite tandem pilot production line.
• 800 billion KRW will support mass production expansion, including building gigawatt-scale facilities and expanding TOPCon (Tunnel Oxide Passivated Contact) cell output.

According to reports, diamond grinding wheel and diamond wire maker Sanchao Advanced Materials plans to invest RMB 240 million (almost USD$35 million) to build a solar cell R&D and experimental base focused on perovskite-silicon tandem technology.

With a 2-year construction period, the facility will adopt a 2-terminal perovskite-silicon tandem architecture and be developed in 2 phases. Phase I (12 months) targets tandem cell efficiency above 34% and a module efficiency of 28%, while Phase II (24 months) aims for a module efficiency of 30% and verification of the mass-production process.

Solar equipment maker Maxwell Technologies has signed a RMB 5.00 billion (almost USD$727 million) investment cooperation agreement with the Wujiang District Government in Suzhou, Jiangsu Province, covering perovskite tandem cell equipment and semiconductor equipment projects.

The perovskite tandem cell equipment project will receive RMB 3.50 billion (around USD$509 million) and will focus on R&D, large-scale production, and industrial application of complete equipment sets for tandem cell manufacturing. The remaining funds will be used for semiconductor equipment R&D and manufacturing, implemented by Maxwell subsidiary Chenwei Equipment Technology (Suzhou) Co., Ltd.