Heliatek pockets EUR 15m to back BIOPV growth

German flexible solar films maker Heliatek GmbH said on Thursday it has raised EUR 15 million (USD 17.8m) to support its efforts to expand on the global Building Integrated Organic Photovoltaic (BIOPV) market.

The funds were obtained from new investors -- an Asian Family office and a German Family Holding, and existing shareholders, among which are German energy group Innogy SE (ETR:IGY), French utility Engie (EPA:ENGI), chemicals group BASF SE (ETR:BAS) and BNP Paribas SA (EPA:BNP).

"Our first Asian investor will help us refine and execute our strategy in that important region for our future," said Heliatek CEO Thibaud Le Seguillon.

The German firm wants to grow on the BIOPV market through boosting the supply quantities of its HeliaFilms product. These solar films are used in the buildings and construction materials sectors and are mounted on facades and roofs of industrial and commercial properties. Heliatek is currently sourcing and installing a new manufacturing roll-to-roll facility for the product in Dresden, which will be able to produce one million sq m (10.8 sq ft) of solar films per year when fully operational.

(EUR 1.0 = USD 1.185)

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