Heliatek, a Dresden, Germany-based leader in organic photovoltaic and a manufacturer of solar films, raised €80m ($88m) in funding.
The round was comprised of €42m in Series D funding, €20m in debt and approx. €18m in subsidies.
The Series D round was led by innogy SE, with participation from new investors ENGIE, BNP Paribas and CEE Group, an investment company of Lampe Equity Management specialized in renewable energy and existing investors, AQTON, BASF, eCAPITAL, HTGF, Innogy Venture Capital, TUDAG and Wellington Partners.
The European Investment Bank, under the “InnovFin – EU Finance for Innovators” program, granted the €20m loan.
The grant is expected by the “KETs Pilot Lines project” technology and innovation funding scheme offered by the State of Saxony and financed by the European Regional Development Fund (ERDF).
The company intends to use the funds to expand its HeliaFilm® manufacturing capacity by one million m² p.a..
Led by Thibaud Le Séguillon, CEO, Heliatek plans to install its new manufacturing roll-to-roll facility on its site in Dresden over the next 18 months. It will offer a capacity of one million m² p.a. of solar films when fully ramped up. The company will continue in parallel its worldwide roll out of its HeliaFilm® products to the building material and the automotive industry.
These expansions should create more than 50 new high-tech jobs in Saxony.