Eight19, a developer of organic photovoltaic (OPV) technology, has just received a further £1 million investment from IP Group to assist with the company’s growth in production and commercial activities.
The Cambridge University spin-off company has presented flexible, light-weight solar modules and done so at a low cost via to its roll-to-roll production process, the company claims. The affordability of Eight19’s technology works in the favour of “autonomous electronics and high-volume off-grid consumer and industrial applications”, and the company is already working to integrate OPV into customer’s products.
Chris Harris, chairman of Eight19, said: “We are naturally delighted at the support shown by IP Group and our existing investors who share our view of the market potential for OPV and the strength of our proprietary technology. The additional financing will allow us to accelerate development of our manufacturing process technology, as well as to better support our customers by strengthening our commercial organisation.”
Robert Trezona, head of cleantech at IP Group, said: “Eight19’s technology has the ability to enable a range of new market opportunities in off-grid solar and energy harvesting applications.”