Sol Voltaics is a Lund, Sweden-based solar technology company developing SolFilm™, a patented low-cost thin-film composed of billions of Gallium Arsenide (GaAs) nanowires intended to increase conventional solar panel efficiencies. Led by CEO Erik Smith, the company has confirmed manufacture of nanowires using its low-cost Aerotaxy® process. Sol Voltaics is in the final stages of technology optimization and expects to send samples to partners by the end of 2018. It closed $21.3m in funding to support its next steps. The company intends to use the funds to accelerate commercialization and scaling of its SolFilm technology. Sol Voltaics develops a high-volume production platform for its patented Aerotaxy® nanowire thin-film process aimed at improving the efficiency and sustainability of conventional solar modules. The company is commercializing a tandem-layer nanowire solar film and recently announced alignment of gallium-arsenide nanowires in a thin film that should enable materially higher PV module efficiencies. Led by CEO Erik Smith, Sol Voltaics intends to use new funding to accelerate commercialization of its technology. The business combines materials engineering and scalable manufacturing methods to produce nanowire-enhanced photovoltaic films. Financially, the company secured equity and grant funding in its latest financing to support product development and market rollout. Sol Voltaics, based in Lund, Sweden, develops Solink™, a gallium arsenide nanomaterial additive designed to boost the light‑to‑electricity conversion of crystalline silicon and thin‑film solar modules. The company plans to use the recent financing to move Solink into pilot production and scale toward commercial output. Management, led by CEO David Epstein, projects commercial production of Solink‑enhanced modules beginning in 2015 with volume production in 2016. The product is intended for integration into solar modules to increase efficiency. In conjunction with the round, Sol Voltaics added Thomas Moe Borseth of Umoe and Kang Sun (former CEO of JA Solar and CEO of Amprius) to its board. Sol Voltaics is a Lund, Sweden-based company that develops a new type of material and production method intended to reduce the cost of producing electricity from solar cells. It is developing a rapid fabrication process for gallium arsenide (GaAs) nanowires in which each wire functions as a solar cell. The company intends to use newly raised funds to further advance its products. Sol Voltaics originated from nanotechnology research at Lund University and was founded in 2008. It is led by CEO Bo Pedersen and has several existing corporate and venture backers.

Total raised

$45M

Funding rounds

6

Latest round

Equity

Latest activity

Jul 2017