Heliatek receives US$ 27 million to continue development of organic solar cells

30-Nov-2009 - Germany

heliatek GmbH is receiving US$ 27 million (€ 18 million) in a second round of financing under the lead of the pan-European venture capital firm Wellington Partners. Also participating in this round are the industrial investor Bosch and the corporate venture capital investors RWE Innogy Ventures and BASF Venture Capital, the High-Tech-Gründerfonds, eCAPITAL entrepreneurial Partners AG, the Technologiegründerfonds Sachsen Start-up GmbH & Co. KG and GP Bullhound Sidecar.

Heliatek will be utilizing the new funding primarily to build an initial production facility in Dresden. In this step and right through to mass production, the company will be using its proprietary tandem technology to efficiently produce, flexible and very lightweight PV modules on a film substrate. Their weight will be merely 500 grams per square meter, instead of today’s customary 20 kilograms per square meter. This will open up a forward-looking market for mobile applications, for architectural solutions and for independently supplying regions with weak infrastructures.

Heliatek CEO Dr. Andreas Rückemann explains: “With this new round of financing, we have now created an opportunity to take advantage of our technology edge in this forward-looking market in order to be one of the first suppliers to ramp up a production operation. We are very proud that we have been able to receive the support of the industrial company Bosch and the venture capital investors RWE Innogy Ventures, BASF Venture Capital, Wellington Partners, eCAPITAL and Technologiegründerfonds Sachsen.”

https://www.chemeurope.com/en/news/110143/heliatek-receives-us-27-million-to-continue-development-of-organic-solar-cells.html