Greatcell Solar says that it has received a A$4 million strategic investment from an Australian food, water and energy fund.
The Australia-based solar tech firm said in a statement that the funds would be used to expedite plans to develop a prototype facility at CSIRO at Clayton in Victoria state and to start the procurement of long lead-time capital equipment required for the facility.
These “critical” activities would enable Greatcell to move forward with its commercialization plans for its Perovskite Solar Cell (PSC) photovoltaics (PV) technology.
PSC is a third-generation solar technology that uses low cost materials in a series of ultrathin layers encapsulated by protective sealants. It can be applied to glass, metal, polymer and cement surfaces and integrated into buildings and other structures.
Greatcell’s development plan aims to produce PV technology that generates electricity for as low as 3.5 US cents per kWh or 25 US cents per watt-peak (Wp). It is aiming to start commercial production of its cells in 2019.
Earlier in November Greatcell announced that it had been awarded a €700 000 grant under the European Union’s Horizon 2020 project.
The Horizon 2020 project is for innovative development of PSC technology on flexible substrates and will investigate advanced technology for higher efficiencies, longer life and improved encapsulation, Greatcell said.