Heliatek raises EUR 18 million from investors

Leading German organic solar film startup Heliatek GmbH has raised a further €18 million from a group of investors led by German entrepreneur and BMW heir Stefan Quandt’s AQTON SE investment holding as it prepares its market entry.

Quandt joined Heliatek’s prior investors, Bosch, BASF, Innogy Venture Capital1, Wellington Partners, eCAPITAL, HTGF and TGFS in backing the company. Since Heliatek’s launch in 2006, it has raised €46 million to develop its technology, manufacturing process and now, with its third, or C, round of funding for market entry.

The company has succeeded with an innovative approach of organic solar films in a roll-to-roll production process. The company is supplying its HeliaFilms to industrial partners for applications in the building integrated PV (BIPV) and automotive sectors.

Heliatek will use the new funds for its market entry. The company is currently supplying prototypes to building and construction material companies, automotive manufacturers and their suppliers.

Paul-Josef Patt, CEO of eCAPITAL AG, said, "In the last 12 months, Heliatek has made enormous progress as the technology leader in organic solar films, and we are now looking forward to taking the next steps towards commercialization together with AQTON SE."

Heliatek CEO Thibaud Le Séguillon added, "This fresh money will help us to reach our set of operational and sales goals until 2016, including the introduction of transparent HeliaFilm in production by the middle of next year."

Heliatek has continued to improve the efficiency and durability of its solar film. The company holds the world record of 12% cell efficiency for opaque organic solar cells and announced earlier this year a transparency of up to 40% associated with an efficiency of more than 7%.

The Dresden-based Heliatek spun off from the Technical University of Dresden and the University of Ulm in 2006.