Aug 17 (Renewables Now) - Australian firm Greatcell Solar Ltd (ASX:GSL) will secure AUD 6 million (USD 4.8m/EUR 4m) in financing for its Perovskite Solar Cell (PSC) technology from the Australian Renewable Energy Agency (ARENA).
The company, previously known as Dyesol Ltd, said in a statement on Wednesday that it has received a letter of negotiation (LON) from ARENA concerning the grant that will be provided under the agency’s Advancing Renewables Programme (ARP). It noted that the funds will enable it to speed up scale-up and prototyping activities needed for the commercialisation of its technology.
The extension of the funds is subject to several terms and conditions among which are the completion of specific documents. Greatcell will also have to raise at least AUD 5 million in fresh funds for the project, apart from ARENA’s grant.
The Australian solar technology firm has been working on the perovskite solar cell technology for several years. It is part of the Solliance research consortium, which in March announced a stabilised efficiency of 12.6% for roll-to-roll produced PSCs. Panasonic (TYO:6752) and Solartek and research organisations from the Netherlands, Belgium and Germany are also part of the consortium.
Last month Greatcell signed a non-exclusive agreement with JinkoSolar Holding Co Ltd (NYSE:JKS), the long-term goal of which is to strike a deal to commercialise the Australian firm’s PSC technology and establish large-scale manufacturing capacities.
(AUD 1.0 = USD 0.794/EUR 0.674)