Germany’s Heliatek is the first company to begin commercialization of large area organic photovoltaic solar film and currently holds the world record efficiency of 13.2% for this technology. The company has announced that they have put together a EUR 80 million (US $88 million) financing round to expand the production capacity of their HeliaFilm product.
Heliatek’s business model is to supply their custom-designed organic solar PV HeliaFilm to companies in industries such as building and construction materials, automotive and light architectural structures.
The company will use the financing round proceeds to install its new manufacturing roll-to-roll facility on its current site in Dresden over the next 18 months. When it is fully ramped up, this facility will be able to produce one million m² per year.
Heliatek will also continue its worldwide roll out of their HeliaFilm product to the building material and automotive industries. These initiatives should create more than 50 new high-tech jobs in the Saxony region of Germany.
The financing round consists of EUR 42 million(US $46 million) in equity, EUR 20 million (US $22 million) in debt and about EUR 18 million (US $20 million) in subsidies.
New investors included ENGIE, BNP-Paribas and CEE Group, an investment company of Lampe Equity Management specialized in renewable energy. The existing investors, AQTON, BASF, eCAPITAL, HTGF, Innogy Venture Capital, TUDAG and Wellington Partners, also participated in this round.
The European Investment Bank, under the “InnovFin – EU Finance for Innovators” program, granted a EUR 20 million(US $22 million) loan to Heliatek. This program is a joint initiative launched by the European Investment Bank in cooperation with the European Commission under Horizon 2020. “
“We are very excited to have successfully completed this financing round. This allows us to strengthen our world leadership in organic solar film and to accelerate our expansion. We will continue to lead the way in enabling distributed energy generation on industrial and commercial buildings” stated Thibaud Le Séguillon, Heliatek CEO. “We will follow our strategy by expanding the BIOPV – Building Integrated Organic Photovoltaic – market through supplying large quantities of our HeliaFilms® to our customers in the building and construction material field” he added.
Tracey is an accountant and entrepreneur with a passion for nature. This passion is what spurred her interest in renewable energy, and the rest is history as they say. Tracey is a principal in Energy Think Group, the publisher of Solar Thermal Magazine and Tek-Think. She is also the principal at Women’s Financial Help Desk. She spends her free time in the outdoors with her horses and dogs. She loves to travel.