US perovskite technology start-up Caelux said today it has completed a USD-12-million (EUR 11m) Series A3 funding round led by Singapore state-owned investment company Temasek.
Reliance New Energy Ltd, Khosla Ventures, Mitsui Fudosan and Fine Structure Ventures also took part in the funding round, which takes Caelux’ total Series A fundraise to USD 24 million.
The Pasadena, California-based company said it will use the funding to support its factory ramp, research and development, and product launch. Caelux is building a manufacturing facility in Baldwin Park, California, and ramping up to reach 100 MW of perovskite-coated glass, according to the announcement.
“This investment will support our mission to usher in the next generation of solar innovation, including our production of full-size perovskite sub-modules,” said Caelux chief executive Scott Graybeal.
Caelux’s technology is intended to improve the performance of any new crystalline silicon module. The company says that its flagship product, Caelux One, integrates seamlessly into existing photovoltaic (PV) module manufacturing processes.
“Caelux’s approach to improving efficiencies by incorporating perovskites on glass is a bold and practical way to drive solar costs down and accelerate renewables growth,” according to Rajesh Swaminathan, partner at Khosla Ventures.
(USD 1 = EUR 0.915)
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