NovoPolymers NV, founded in 2008 and based in Puurs, Belgium, develops and produces sustainable polymer solutions for the photovoltaic market. Its core products are encapsulant sheets for PV modules, including the recently developed NovoVellum® MF01 and NovoVellum® FW01. Some products have been launched while others are undergoing IEC certification tests with preferred partners. The company raised €5.4m in equity funding to accelerate its innovation roadmap and internationalize in the global solar industry. Investors include existing backers Gimv and Capricorn Cleantech Fund and new investor SFPI‑FPIM, which also provided additional funds to support expansion in Asia. NovoPolymers intends to use the capital to speed product development and build a stronger presence internationally, particularly in Asia. NovoPolymers is a Puurs, Belgium–based company that develops and produces proprietary polymer-based encapsulation foils for the photovoltaic market. Founded in 2008 and led by CEO Johan Declerck, the company makes films suitable for encapsulation of both crystalline and thin‑film solar cell technologies. NovoPolymers plans to market a series of new encapsulant products coming out of its R&D pipeline in the next months. The company has secured financing to expand its Belgian plant and to hire additional staff to strengthen R&D, operations and sales. The planned plant expansion is intended to double production capacity to reach 1 GWp by early 2012. The recent financing round demonstrates support from existing shareholders for its near-term commercialization and capacity growth plans.

Total raised

$13M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2012