Perovskite solar panels developer Tandem PV has raised $50m in Series A funding and debt.
Led by Eclipse, with participation from Constellation Energy, Planetary Technologies and others, the investment will fund the development of a commercial-scale manufacturing facility in the US.
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The new facility will accelerate the adoption of Tandem PV’s high-efficiency solar panels in the country, reducing reliance on foreign manufacturers and boosting national energy security.
Tandem PV’s solar panels have an efficiency of 28% and will exceed 30% by the end of the year.
The panels also reduce both labour and land expenses, providing a lower overall cost of ownership and a sustainable route to achieve decarbonisation.
Industry analyses forecast that perovskite solar modules will reach gigawatt-scale manufacturing by 2028, placing Tandem PV in a leading position within this technological transition.
With a perovskite layer 200 times thinner than silicon, the technology uses just 10% of the energy required for producing conventional panels, setting a new benchmark in sustainable solar manufacturing.
Eclipse partner Greg Reichow stated: “Tandem PV’s performance and progress are incredibly exciting, particularly given there have been minimal breakthroughs in solar technology for the past decade.
“Tandem PV’s impressive durability and efficiency are unmatched in the market, and couldn’t come at a more critical time. By building a manufacturing facility in the US, Tandem PV will help the US meet its growing energy needs while weaning off its dependence from China and other foreign manufacturers.”
Tandem PV aims to re-establish US leadership in solar innovation, fostering energy independence and reducing reliance on foreign supply chains.
Tandem PV CEO Scott Wharton stated: “This investment is a resounding endorsement of our mission to revolutionise solar energy and re-establish the US as a leader in renewable technology.
“With Eclipse’s backing, we are no longer just developing breakthrough technology — we are bringing it to market at scale. As global demand for clean energy surges, Tandem PV is stepping up to meet it — delivering next-generation solar power that is more powerful, more sustainable and made in America.”
