NovoPolymers Raises €5.4M in Equity Funding
NovoPolymers NV, a Puurs, Belgium-based company specialized in the design and conversion of polymer formulations into photovoltaic encapsulant sheets, has raised €5.4m in equity funding.
Backers include existing investors Gimv, Capricorn Cleantech Fund and new investor SFPI-FPIM (Société Fédérale de Participations et d’Investissement – Federale Participatie- en Investeringsmaatschappij).
The company intends to use the capital to accelerate its innovation roadmap and internationalize in the global solar industry. SFPI-FPIM also made available extra funds to specifically support NovoPolymers’ strive to create a strong presence in Asia.
Founded in 2008 by CEO Johan Declerck, NovoPolymers develops and produces sustainable solutions for the photovoltaic market. It has recently developed a new range of innovative encapsulants for Photovoltaic (PV) modules, which are either already launched (NovoVellum® MF01, NovoVellum® FW01) or are under scrutiny in IEC certification tests with preferred partners.