Tandem PV, a San Jose, California based startup company growing mechanically stacked, 4 terminal, perovskite-silicon modules, introduced a $ 6 million venture funding spherical. Tandem PV which was based in 2016, echoed that it’s going to use the funds to hurry up the commercialization, investing I analysis and improvement and plans for its first manufacturing facility.
This funding spherical was spear headed by and current investor Planetary Applied sciences, an early stage enterprise capital agency with deep experience in local weather tech, joined by new compatriot investor Uncorrelated Ventures in addition to executives from a wide range of company sectors and such photo voltaic trade leaders as Tom Werner, former chairman, president and CEO of SunPower.
Future prospects
Scott Wharton the Tandem PV CEO highlighted that the brand new capital is validation of the enterprise’s progress by way of stability, energy conversion effectivity and module measurement. He added that as everyone is speaking of sturdiness, them as Tandem are in a position to show it and the brand new investments validate that management place within the world perovskite market and can assist them usher in buyer agreements to start constructing their first plant.
The door check have indicated 80% efficiency after 25 years equal with the summarized tandem modules’ energy conversion effectivity is 26% with typical PERC cells and the modules measure 100 cm2 . with newer ones at 300 cm2 .
Particulars of the cell know-how and the module has not been absolutely supplied by the corporate.
Tandem PV is one among a number of groups utilizing the US Division of Vitality’s PV Accelerator for Commercializing Applied sciences (PACT) for impartial efficiency and reliability testing for all sorts of perovskite PV modules and mini modules, together with area testing.
Price breakdown
Over $27 million in enterprise capital and authorities help has been raised by the corporate. The newest financing spherical is anticipated to assist usher in buyer agreements and start constructing the primary proposed plant.
The continuing steps for this yr are to participate in indoor testing applications, third celebration validation of the efficiency metrics, particularly effectivity and sturdiness and.
As a ultimate step in a seven yr previous Tandem PV is taking towards commercialising its mechanically stacked panels, the corporate has carried out efficiency check. It has fabricated 100 cm2 panels which have handed IEC 61215 accelerated exams with educational companions, and has obtained preliminary knowledge on passing triple-length length IEC 61215 exams, as Colin Bailie, CTO
The preliminary utility Tandem PV will goal is principally utility
Tom Werner, an Investor expressed his satisfaction with the Tandem PV’s staff and the progress they’ve made to take their innovation out of the lab, and into the market. He additionally highlighted the highly effective and value effectiveness of the Perovskite photo voltaic panels as an answer wanted to struggle local weather change.
About Tandem PV
Tandem PV, primarily based in Silicon Valley, was based in 2016 in response to the pressing crucial for a swift world transition to internet carbon zero. Solar energy is now the world’s most cost-effective vitality supply, however we should speed up its distinctive development to handle our present crucial environmental challenges.
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