Heliatek GmbH, a Dresden, Germany-based developer od organic solar cells, is receiving $27m (€18m) in a second round of financing.
The round is led by venture capital firm Wellington Partners with participation from industrial investor Bosch and corporate venture capital investors RWE Innogy Ventures, BASF Venture Capital, the High-Tech-Gründerfonds, eCAPITAL entrepreneurial Partners AG, the Technologiegründerfonds Sachsen Startup GmbH & Co. KG and GP Bullhound Sidecar.
The funds will be used to build a facility in Dresden to produce efficiently, flexible and very lightweight PV modules on a film substrate.
Formed in 2006 as a spin-off from the Universities of Dresden and Ulm, Heliatek develops organic solar cells incorporating its proprietary tandem technology from so-called “small molecules”, organic dyes that are chemically synthesized from hydrocarbons.
The company had previously received a seed-investment of €500,000 from the High-Tech Gründerfonds and €100,000 from Dr. h.c. Harald Eggers.