Nexwafe raises €10 million for commercialization of wafer tech


From pv magazine Germany

Nexwafe said this week that it has secured €10 million ($11.9 million) in a recent B-series financing round.

Existing shareholders and new investors took part in the funding round. The participants included Fraunhofer, Saudi Aramco Energy Ventures, GAP Technology Holding, Lynwood Schweiz, and Bantina Invest.

Nexwafe said that it intends to use the capital to advance the commercialization of its wafer technology and to begin pilot production. The manufacturer claimed that its EpiWafers technology could help module producers to achieve dramatically higher degrees of efficiency, without having to upgrade their production lines.

It has also claimed that its technology can enable the production of ultra-thin wafers. It has already demonstrated this on its pilot line in Freiburg, Germany. In addition to ultra-thin wafers, Nexwafe plans to use tandem architectures in the future.

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The company is currently talking to potential partners about the commercialization of its wafer technology, it said. CEO Davor Sutija is overseeing these efforts, the company added.

In addition, Nexwafe announced a number of changes this week. Its board chairman, Peter Pauli, plans to resign, but will remain with the company as a shareholder. Bart Markus, who has been a member of the Nexwafe board of directors since 2019, is set to succeed him as chairman.

“Now, with this new funding and our new CEO at the helm, we will be able to take the company to the next level, both in technology readiness with the pilot line and in commercializing the technology,” Markus said.

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