Connect with us

Hi, what are you looking for?

Business

£1m boost for Cambridge spin-out behind solar panel innovation

GraphEnergyTech, a Cambridge spin-out pioneering alternative electrodes for solar panels, has secured £1 million in funding from an investment round led by Aramco Ventures, the venture capital arm of Saudi Aramco.

The company has developed a novel conductive graphene ink for solar panel electrodes, offering a more sustainable and cost-effective alternative to the silver traditionally used. This breakthrough technology is particularly significant as silver, while highly conductive, faces supply constraints amidst growing solar demand.

GraphEnergyTech’s conductive graphene ink, derived from a process adapted from the pharmaceutical industry, effectively replaces silver in solar cells. Given that silver accounts for almost 14% of global consumption for solar demand—a figure projected to rise—the industry is concerned about potential shortages. The University of New South Wales predicts that the solar sector could deplete 85-98% of the world’s silver reserves by 2050.

Dr Thomas Baumeler, CEO of GraphEnergyTech and a PhD graduate in solar energy, emphasised the company’s focus on solar panel manufacturers but highlighted potential applications in other sectors. “We are initially targeting solar panel manufacturers due to our expertise, but we are also exploring applications in batteries with a Korean partner,” Baumeler said.

GraphEnergyTech has garnered significant support from influential figures in the scientific community, including Michael Grätzel, a leading innovator in solar panel technology and Baumeler’s PhD supervisor. Grätzel’s involvement has opened doors for the company within the industry.

Uniquely, GraphEnergyTech is a dual spin-out from both the University of Cambridge, through the Cambridge Graphene Centre, and the Swiss Federal Institute of Technology Lausanne.

Frontier IP, an AIM-listed co-founder of GraphEnergyTech, which holds a 23.97% equity stake in the business, is expected to confirm the investment news on Monday.

Read more:
£1m boost for Cambridge spin-out behind solar panel innovation

Advertisement

    You May Also Like

    Investing

    RevisingTheBankSecrecyAct_NorbertMichelAndJenniferSchulp_CMFAWP007   The post Revising the Bank Secrecy Act to Protect Privacy and Deter Criminals (CMFA Working Paper No.007) appeared first on Alt-M.

    Investing

    Recently, an investment advisor and Bitcoin proponent tweeted the claim that “[f]or most of human history” the “[s]eparation of money and state was the...

    Business

    Rollee enables worker’s to share their professional data, spread over one or more financial platforms. Ali Hamriti, CEO and Co-Founder of Rollee, is on...

    Business

    The energy crisis means that as the price of wholesale commercial energy hits an unprecedented high, businesses must pay notably more for their energy...

    Disclaimer: successfuldealnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 successfuldealnow.com | All Rights Reserved