NexWafe’s decrease carbon solar wafer will get nearer to manufacturing after Series C funding

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By Chris Crowell April 14, 2022 View Profile

NexWafe GmbH is creating a brand new course of for producing monocrystalline silicon wafers straight from cheap uncooked supplies, skipping a extra energy-intensive step. It’s an intriguing idea for decreasing the embodied carbon of solar PV modules, and final we heard again in October is that Reliance New Energy Solar Limited (RNESL) grew to become a strategic lead investor with plans to construct large-scale wafer manufacturing services in India.

This week, NexWafe despatched phrase that a number of extra traders joined on throughout a Series C funding spherical accomplished in December 2021, led by one in every of Germany’s largest household workplaces. Including the second shut, the Series C financing totals 39M Euros and might be used to finish product and expertise improvement for NexWafe’s solar photovoltaic merchandise on prototype strains in Freiburg.

“NexWafe is accelerating the renewable energy transition with more efficient, lower cost, greener solar wafer technology for photovoltaic manufacturers globally, including strategic partners committed to gigawatt scale implementation of NexWafe epitaxial wafer production,” stated Davor Sutija, CEO of NexWafe.

As the worldwide PV provide chain simply typically will get messier daily, a brand new participant on this house, in one other a part of the world, might ease a few of these challenges. Additionally, NexWafe’s patented wafer manufacturing resolution simplifies polysilicon manufacturing might additionally drastically decrease manufacturing prices.

Investors becoming a member of NexWafe’s Series C development spherical’s second shut additionally embody Ecosummit, an funding group that advises good inexperienced startups on fundraising and technique. Investors within the first shut of the Series C Round embody Reliance Industries Limited, InnoEnergy, HEMMA Group, Saudi Aramco Energy Ventures and others.

A brand new NexWafe board was elected in January, together with Chairman Bart Markus, deep-tech investor and former General Partner of Wellington Partners; and Directors Marina Groenberg, Managing Director, HEMMA Group; Thomas Koerner, Vice President, Canadian Solar; Sanjay Mashruwala, President of Reliance Industries Ltd., and Bruce Niven, Chief Investment Officer at Saudi Aramco Energy Ventures.

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Tags: NexWafe

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