Epishine has developed a unique lamination process to produce solar cells capable of generating electricity under extremely low light conditions. The production method utilizes organic materials and avoids expensive or toxic substances such as silver and arsenides.
“Epishine’s organic solar cells are based on research at Linköping University. The solar cells address a concrete problem in a growing market, as the application area is the power supply of IoT devices. The combination of a solution to a clear problem and a growing market made this a natural investment for us,” says Jonas Nilsson, Investment Manager at LiU Invest.
Epishine’s solar cells are the result of over 25 years of research, including work at Linköping University. The solar cells are thin, flexible, lightweight, and well-suited for integration into smart IoT products that need to function without fixed electrical installations or battery replacements, such as alarm sensors.
“Thanks to this investment, we can accelerate our development and begin the transition from lab to production in earnest. We are very pleased to have secured such committed investors who want to work toward the same goals as we do and who share our vision,” says Emma Woxlin, Market Director and Co-founder at Epishine.
Almi Invest, Potential Invest, and Lars Björk are also participating in the round, which totals 11.3 million. These investors were drawn to Epishine because of the future potential in efficient solar energy extraction.
The capital will be used to bring Epishine’s technology into production, as well as for product development and expanded sales and marketing efforts.
