ImpactAlpha, July 9 – The cost of solar technology has dropped substantially in recent years, driving uptake as a clean-energy alternative to fossil fuels. Oxford PV has closes £65 million ($81 million) Series D funding round to help get the cost of solar down further with its solar panel efficiency boosting film.
The Oxford, U.K.-based company’s film is made of a compound called perovskite, which works with standard silicon-based solar cells to boost their ability to convert sunlight to electricity. The company says its technology can improve cells’ conversion capacity from 20-22% to 28%. It believes it can eventually push conversion as high as 33%, according to Oxford PV’s website.
The funding will support the commercialization of Oxford PV’s technology.