Oxford PVTM – The Perovskite CompanyTM, the leader in the field of perovskite solar cells, today announced it has signed an exclusive collaboration agreement with Meyer Burger AG (Meyer Burger), the leading photovoltaic equipment supplier, to accelerate the development of mass production technology for perovskite-on-silicon heterojunction tandem solar cells and modules.
The collaboration brings together Oxford PV’s world record-setting perovskite solar cell technology, with Meyer Burger’s leading heterojunction and SmartWire Connection (SWCT) technology. Meyer Burger will additionally develop equipment to industrialise the mass production of the perovskite layers deposited on top of the silicon heterojunction bottom cells.
Oxford PV will purchase from Meyer Burger a 200 MW heterojunction line for the production of tandem solar cells, to be installed at the company’s facility in Brandenburg an der Havel, in Germany, by the end of 2020.
To underscore this collaboration, Meyer Burger will take a significant stake in Oxford PV of up to 18.8% of capital with the option to double the investment by the end of 2020.
Hans Brändle, Chief Executive Officer at Meyer Burger said, “Perovskite tandem solar cells are viewed in the solar industry as the next generation in solar cell technology, enabling the reduction of the cost of solar energy (LCOE) to unprecedented levels. We are pleased to collaborate with Oxford PV, the leading global company for perovskite tandem solar cells, speeding up the time-to-market for this promising technology.”
Frank P. Averdung, Chief Executive Officer at Oxford PV commented, “We are delighted to work with Meyer Burger to accelerate the introduction of our technology to the market. Expanding production capacity at our German facility represents a fundamental step forward for Oxford PV. With this sizeable funding, the company is well positioned to implement its commercialisation plans.”
Christian Langen, Chairman of the Board at Oxford PV added, “Meyer Burger’s investment and collaboration with Oxford PV validates the credibility and market readiness of our technology. Perovskite PV will transform solar power generation and we are excited to be at the forefront.”
Last week, Oxford PV announced it had raised £31 Million in the first close of its Series D funding round, with a major new investment from Goldwind, the leading provider of integrated renewable energy solutions in China, and investment from existing shareholders including Equinor and Legal & General Capital.
Alexa Capital acted as sole financial advisor to Oxford PV on the transaction.