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Oxford PV unveils GBP-65m final close of Series D funding round

Oxford PV perovskite-silicon solar cells at the company’s industrial pilot line. Source: Oxford PV (www.oxfordpv.com/)

July 3 (Renewables Now) - Oxford Photovoltaics Ltd, better known as Oxford PV, has achieved a final close of GBP 65 million (USD 82m/EUR 72.5m) for its Series D funding round, the UK perovskite solar firm announced today.

After the GBP-31-million first close in March, Oxford PV has now secured a further GBP 34 million in investments from Swiss solar industry supplier Meyer Burger Technology AG (SWX:MBTN) and other new and existing investors. The Meyer Burger investment was formalised in late March, when it bought a stake of 18.4% in the perovskite solar firm.

“We now have the funds to move into manufacturing and accelerate market introduction. The production line we are installing in Germany, to manufacture perovskite-on-silicon tandem solar cells, will be the first of its kind anywhere in the world,” said Frank P Averdung, CEO at Oxford PV.

As previously announced, Meyer Burger will install a 200-MW silicon heterojunction solar cell line at Oxford PV’s site in Brandenburg an der Havel, Germany. It is expected to begin perovskite-on-silicon tandem solar cell production at the end of 2020.

(GBP 1.0 = USD 1.257/EUR 1.115)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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