Sunday, 22 Sep 2019

Oxford PV raises £4.4 million of additional B round financing

The company now believes it is well capitalised to take our technology through the next stage of development towards commercial deployment

7 Oct 2015 | Editor

Oxford PV has recently announced a 2nd round of funding for 2015 that brings it total for the year to £12,400,000, the additional top-up round will help fund the continued development of Oxford PV’s as the company move towards scale-up and commercial engagement with potential licensees.

David Smyth, CFO of Oxford PV said, "I am delighted to have raised this additional investment on top of the impressive round earlier in the year. The company is now well capitalised to take our technology through the next stage of development towards commercial deployment. The solar power market continues to grow more rapidly than expected. Our proprietary technology has the potential to revolutionise this exciting but competitive market and allow solar to become the future mainstream fuel source for electricity."

Editors note:

Dr David Fyfe was appointed as Executive Chairman of Oxford PV in October 2014 with special responsibilities for the strategic direction of the company and relationships with key partners and shareholders. David previously held the role of non-executive chairman.

David served at CEO and Chairman of Cambridge Display Technology, lead the company to a Nasdaq flotation and a subsequent trade sale to Sumitomo Chemical of Japan for $285 million.

Technology background

Oxford PV is developing and commercialising thin-film perovskite solar cells, which can be printed directly onto silicon solar cells, CIGS solar cells or glass. This will drive a paradigm shift in the aesthetics, performance and cost of both current solar panels and Building Integrated Photovoltaic (BIPV) systems.

Pioneering work developing perovskite thin-film solar cells has delivered a route to boosting the efficiency of current commercial cells; using a high efficiency coating in a multi-junction or "tandem" cell architecture. In addition, printing perovskites directly onto glass has led to a semi-transparent coating ideal for BIPV applications and, once integrated into the glazing units of a building, the technology is capable of providing a significant percentage of the building’s electrical energy requirements directly from sun light, as can be seen from our case studies.

By employing well known and well understood printing processes, focused on inexpensive and abundant raw materials, Oxford PV has developed a highly cost effective technology.

Perovskite materials have astounded the solar cell community with a steep rise in efficiency from ~4% in 2010 to a certified efficiency of 20.1% (NREL) in 2014- already surpassing many other solar technologies.

To reach this remarkable efficiency in such a short time, many iterations of the cell architecture were trialled through to the current planar thin-film devices – more akin to other thin-film technologies.

Source: Oxford PV


About Oxford Photovoltaics

Oxford PV is an exciting spin-out from the University of Oxford. Its team of 30 PV and Advanced Materials scientists are developing and commercialising a new perovskite-based technology which will enable solar power to become the mainstream fuel source for electricity.

The company believes that its perovskite-based technology will improve the performance of traditional silicon solar panels by at least 20%, revolutionising this $100 billion market and facilitating new multi-$bn opportunities for the generation of solar power. These include BIPV (building integrated PV) where the company’s technology can be coated onto glass to allow large office blocks to generate their own electricity.

Perovskite is the fastest improving solar cell technology ever seen and Oxford PV is leading the global development and commercialisation.

Source: Oxford Photovoltaics

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