Heliatek secures up to EUR 80m for BIOPV expansion

German flexible solar films maker Heliatek GmbH said today it has secured up to EUR 80 million (USD 89m) in financing that will enable an expansion into the Building Integrated Organic Photovoltaic (BIOPV) market.

The company said it will use the funds to support the expansion of its annual manufacturing capacity for the HeliaFilm product by 1 million sq m. The plan involves installing a new production roll-to-roll facility on its existing site in Dresden over the next 18 months. In the meantime, the firm will continue the worldwide roll out of the products to the building material and the automotive industry, it said.

Heliatek noted that EUR 42 million of the fresh capital comes from a Series D financing round led by innogy SE, with participations from Engie, BNP Paribas, CEE Group, AQTON, BASF, eCAPITAL, HTGF, Innogy Venture Capital, TUDAG and Wellington Partners.

The firm has also received a EUR-20-million loan from the European Investment Bank (EIB) and has applied for up to EUR 18 million of grants under the KETs Pilot Lines technology and innovation funding scheme offered by the State of Saxony and financed by the European Regional Development Fund (ERDF).

(EUR 1.0 = USD 1.115)

Choose your newsletter by Renewables Now. Join for free!