Sulfurcell, a provider of CIGS/CIGSe type thin-film solar modules, has secured EUR18.8m in equity funding for the expansion and market introduction of its second generation thin-film photovoltaic (PV) technology.
The company said that the funding comes on the heels of its recent accomplishment of manufacturing full scale thin-film modules with 12.6% efficiency.
The company’s investors have funded the acquisition of additional CIGSe equipment and ongoing R&D work targeting 14% efficiency within the next 12 to 18 months.
The financing round was led by Intel Capital, the global investment arm of Intel Corporation.
Sulfurcell CEO Nikolaus Meyer said that this additional funding from the company’s existing investors will allow it to accelerate its technological progress.