December 12 (Renewables Now) - Greatcell Solar Ltd (ASX:GSL) will receive a AUD-6-million (USD 4.5m/EUR 3.9m) grant from the Australian Renewable Energy Agency (ARENA) to accelerate development of its perovskite solar cell technology, the parties said on Tuesday.
The funding will help Greatcell develop a prototype facility in Australia for the fabrication of high quality, large-area perovskite devices, a key step towards large-scale production. According to ARENA's announcement, the total cost of the project is AUD 17.3 million.
"With this financial support from the Australian Government, we expect to demonstrate that perovskite solar cell technology is a strong candidate for commercialisation," said Greatcell managing director Richard Caldwell.
ARENA earlier provided a AUD-450,000 grant for a project to demonstrate that perovskite solar cells are efficient and stable.
(AUD 1 = USD 0.757/EUR 0.644)