Sulfurcell, the German thin film solar panel manufacturer, announced it has secured EUR 85 million (US $135 million) in equity funding for a significant expansion of its manufacturing with a new plant in Berlin, Germany for the production of CIS/CIGSe based thin-film solar modules. The new plant will have an annual capacity of 75 megawatts (MW) with an intermediate expansion to 35 MW.
With this financing Sulfurcell will transfer its proprietary production technology, developed in its pilot plant, into full production. The round will also fund Sulfurcell’s long-term oriented development projects, the company said. The round was led by Intel Capital, the global investment arm of Intel Corporation, which invested €24 million (US $38 million) and co-led by Climate Change Capital Private Equity with an investment of €12 million (US $19 million).
“This funding round constitutes a major milestone for Sulfurcell towards our goal of becoming a global leader in CIS/CIGSe thin-film PV field. During its three years of operation, Sulfurcell’s current pilot production line has been successfully ramped to volume and reached a high level of maturity along all key process indicators including module power, throughput and yield,” said Dr. Nikolaus Meyer, CEO of Sulfurcell.