Verde Technologies

Last updated on Mon 08/01/2024 - 11:00
Company Type:  

Verde Technologies is an NSF, DOE/SETO-funded startup, and NREL collaborator that spun out of the University of Vermont. Its core competency is the rapid transition from lab-scale to full-scale manufacturing of stable, efficient, and safe perovskite solar cells using existing manufacturing infrastructure.

Verde Technologies was founded by Doctors Randall Headrick and Richards Miller in 2021. With Randall’s expertise in thin films and Richards’ experience in the lab, the two invented a novel solar cell that will accelerate the renewable energy transition. 

In April 2023, Verde was selected as a commercial partner for the DOE Solar Energy Technologies Office (SETO) $11.25 million cost-shared award. In partnership with Massachusetts-based CubicPV, Verde will collaborate with the Massachusetts Institue of Technology (MIT), the University of California at San Diego, and Princeton University to establish a perovskite solar tech center, expediting the advancement of perovskite solar cell production.

Verde’s initial focus is on roofs unsuitable for traditional solar panels due to structural integrity of orientation issues. This approach will allow Verde to prove the technology and value proposition before addressing a wider market. 

One exciting application is the revitalization of end-of-life solar fields, which are traditionally expensive to renovate. Verde aims to allow all the existing infrastructure to stay in place, and essentially put a thin film of flexible solar panels right on top. 

Looking ahead, Verde anticipates completing its outdoor testing facility at The University of Vermont by fall 2024, which will provide insights into panel effectiveness under sunlight. Rooftop testing is scheduled to follow the following year. The company continues to use UVM’s lab space, along with VCET and Hula’s coworking space.

Verde also recently achieved a milestone by printing 200 feet of their perovskite ink on a full-scale manufacturing line, advancing towards their commercial product.

Verde’s next step will be to raise a $7 million seed round. 

Company Address

12900 Whitewater Dr #200
Minnetonka, MN 55343
United States