Swift Solar has closed a $27 million Series A financing spherical, advancing US manufacturing of perovskite photo voltaic know-how, the corporate stated on June 12.
The spherical was led by Eni Next, the capital arm of Italian built-in vitality firm Eni, and deeptech agency Fontinalis Partners. New buyers within the spherical additionally embrace Stanford University, Good Growth Capital, HL Ventures, and others.
In complete, Swift has raised $44 million for its mission to rework the photo voltaic vitality panorama with perovskite tandem photo voltaic tasks.
“People might not notice that photo voltaic manufacturing is now concentrated in China and Southeast Asia. Swift Solar will carry superior photo voltaic manufacturing again to the US and strengthen our home renewable vitality sector,” stated Joel Jean, Swift co. -founder and CEO.
Perovskite is a mineral composed of calcium titanate that helps effectively use the solar’s vitality and reduces the price of photo voltaic vitality by as much as 30%, Swift stated.
The firm added that the photo voltaic business is reinforcing perovskite as a “groundbreaking” photovoltaic know-how.
“Perovskite photo voltaic cell manufacturing includes much less materials and fewer vitality, which lowers manufacturing prices and carbon air pollution,” Swift stated.
