Oxford PV acquires thin-film development line for perovskite scale-up
Solar innovator confirms the next phase of its’ ambitious growth strategy
Oxford, UK, 10 November 2016 – Oxford Photovoltaics Ltd (Oxford PV), the pioneering solar technology company, today announced that it has acquired the production site previously operated by Bosch Solar CISTech GmbH. The site, located in Brandenburg an der Havel, Germany, will be equipped to provide modern, pilot-scale capacity to scale-up Oxford PV’s world-leading perovskite technology to industry-standard wafer size and to perfect the manufacturing processes necessary for commercial deployment.
Having also recently announced completion of the first portion (£8.7m) of a Series C funding round, the company will now drive towards market deployment of its’ perovskite technology.The company believes that, in a tandem configuration on top of standard silicon PV cells, its’ technology will provide a bigger boost to cell efficiency than any other technology and has the potential to revolutionise the solar energy market.
The company has already commenced recruitment of the staff who will drive the operations forward and expect to be fully operational on the site within a few months.
“Perovskite has the potential to radically improve the efficiency of solar PV and meet the world’s energy demand into the future,” says Frank Averdung, CEO of Oxford PV.
“We are delighted to have secured this site which will allow us to drive quickly towards market deployment. The facility is a first-class resource and was made even more attractive to us by the availability of a highly-skilled and experienced workforce locally. We look forward to building our team and operation in Brandenburg alongside our existing operations in Oxford.”
Notes to editors
Oxford Photovoltaics Ltd (Oxford PV) is a pioneering solar technology company that was founded in 2010 as a spin-off from the University of Oxford by Professor Henry Snaith. Today, the company’s team of 37 people, including chemists and advanced materials scientists are on a fast-track to commercialising a new perovskite-based technology. Last year, Professor Snaith was honoured by Thomson Reuters as the second most influential scientific mind in the world. The company believes that this technology will enable cell manufacturers in the $100bn solar power industry to boost the performance of their solar cells by around 30 per cent and facilitate new multi-billion dollar markets for the generation of solar power.
Perovskite is the fastest improving solar cell technology ever seen and Oxford PV is leading the global development and commercialisation of this exciting new material.