NLAB solar secures an additional SEK 18 million in financing from industrial partner Fasadglas Bäcklin AB, Scandinavias largest glass facade company.
The purpose of the partnership and financing is to accelerate product development at NLAB Solar and reduce time to market.
The partnership between NLAB Solar and Fasadglas is an important step towards the integration of power generating facades, and therefore it is also a big step towards ecologically sustainable and self-powered buildings. Through the partnership with Fasadglas, NLAB gains access to unique knowledge of the market as well as distribution, installation and sales for commercialization within its prioritized field of business: façade- and building integrated photovoltaics (BIPV).
“Fasadglas is our customer and their investment is the ultimate proof that we are headed in the right direction. Now we have more than a product, we have a well known distributor with extensive experience in solar power installations and a market for our product from day one. “, says Giovanni Fili, CEO NLAB Solar.
NLAB Solar will be using the funds to construct one of the world’s first pilot plants for production of 3rd generation solar cells, in Stockholm. Dye Sensitized Solar Cells (DSC), also known as Grätzel cells or third generation solar cells, are based on natural chemistry. The working principle of the DSC can be described as artificial photosynthesis, utilizing a synthetic dye adsorbed on titanium dioxide instead of chlorophyll to convert sunlight into green power. NLAB Solar’s unique and patented technology for transparent DSCs– a photonic crystal – allows them to boost the conversion of sunlight to electrical energy by up to 37% above competition.
“Fasadglas is one of Sweden’s oldest family businesses with 97 years of experience from the glass industry. We have a strong tradition of aiming to position ourselves at the forefront of technology and sustainability. A few years back we made a strategic decision to go for solar and NLAB Solar with it’s competent management and unique IP for window integration is a perfect match for us. We will be able to contribute with extensive knowledge of product and market.”, says Jan Åke Lindholm, CEO Fasadglas Bäcklin AB.
NLAB Solar’s method of increasing efficiency makes the solar cells more efficient under indirect and diffuse illumination, or even indoors. This makes it possible to use the entire facades of large buildings in urban environments for power production in spite of poor light conditions. The goal is to power one square meter of office space with one square meter of solar cell facade. NLAB Solar’s cells are estimated to cost 20% of the current price on silicon solar cells. Another property that makes the product highly attractive to the glass market is the possibility of tailoring transparency and color of the solar cells, which will allow them to replace solar control film in warm countries. The global glass market for NLAB solar is estimated to be in excess of 3 billion square meters per annum.
The third generation solar cell (DSC) was originally invented by legendary Swiss professor Michael Grätzel:
“It makes me very happy to see the recent developments of NLAB Solar, a strong management and great technological knowledge together with this industrial partnership will shorten the time to market substantially. The entire DSC business is at the verge of a commercial break through and together with its new partner NLAB Solar has a strong position and can advance rapidly”, says Professor Michael Grätzel, inventor of the DSC and the winner of the Millennium Technology Grand Prize in 2010.
For further information please contact:
Giovanni Fili, CEO NLAB Solar AB
Telephone: +46 (0) 735 300 00
About NLAB Solar:
NLAB Solar was founded in 2008 as a daughter company to the materials development company Nanologica AB. As a previous participant at the Stockholm Clean Tech Venture Day, NLAB Solar was one of the most attended companies at the event. The company collaborates with a number of enterprises, research groups and government agencies world-wide, among them their strategic partner YKI (National Institute for Surface Chemistry), NICe – Nordic Innovation Centre, VINNOVA (The Swedish Governmental Agency for Innovation Systems) and the European Commission. For more information about NLAB solar, please visit: www.nlabsolar.com