Meyer Burger picked up an 18% share in solar film manufacturing spinout Oxford PV, following a recent $41m first series D close for the spinout.
Oxford PV, a UK-based thin-film solar technology developer spun out of University of Oxford, on Thursday obtained an undisclosed amount of capital from semiconductor technology producer Meyer Burger in return for an 18% stake.
Meyer Burger has secured an option to double its investment by the end of 2020.
Founded in 2010, Oxford PV manufactures thin, electrically conductive films called perovskite that are affixed to solar cells to bolster their performance and energy output, with the intention of making solar-generated electricity more cost-effective.
Meyer Burger’s investment is part of a wider business development pact, allowing it to sell Oxford PV semiconductor equipment for the spinout’s solar cell manufacturing line.
Oxford PV had taken in more than $118m in equity and debt financing prior to the latest announcement.
News of Meyer Burger’s involvement comes days after Oxford PV’s $41m first series D close, led by wind turbine…
