Danish slot die coating equipment manufacturer raises capital for expansion


FOM Technologies, a Danish thin film coating equipment manufacturer, completed financing to fund expansion of sales in the U.S. market, to build inventory to be able to deliver tools more quickly to its industrial and research customers, as well as to make investments in technologies, such as artificial intelligence and machine learning, to use in new products and solutions.

Its slot die coating equipment is used to fabricate thin film sheets or roll-to-roll thin film foils. It has a range of system sizes suited for labs and pilot-lines. The systems can be used in ambient and dry room conditions, or within a glovebox. They have coating area dimensions that are compatible with commercially available PV modules.

“We see a very exciting potential in the commercialization of tandem and perovskite technology going forward,” Michael Stadi, CEO, FOM Technologies told pv magazine.

FOM Technologies is participating in several large European perovskite solar cell research projects, such as Supertandem and Pepperoni.

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Customers in the PV industry include Swedish organic PV manufacturer Epishine and Canadian perovskite solar cell startup QD Solar. When asked for US-based references, Stadi noted that two of them are Massachusetts Institute of Technology (MIT) and thin film PV solutions company, First Solar. “There are many more. We also focus on serving customers active in manufacturing of battery storage, fuel cells and so-called power-to-X technologies,” said Stadi.

The investor group included Denmark-based institutional investors ATP and BankInvest. FOM Technologies is currently traded on the Nasdaq First North Growth Market. In a statement the company said the transaction is an interim solution after it decided to postpone its plan to list on the Nasdaq Nordic Main Market.

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