Consortium in €10m round for NexWafe

Investors include Fraunhofer, Saudi Aramco Energy Ventures, GAP Technology Holding, Lynwood and Bantina Invest.

NexWafe intends to use the fresh capital to develop the production of its EpiNex technology by starting pilot manufacturing processes.

The company also announced that board chairman Peter Pauli is to step down from his role, although he will remain as a shareholder. Bart Markus will take on the role as chairman.

NexWafe CEO Davor Sutija told Unquote sister publication Mergermarket that the company was preparing to raise a series-B funding round by the end of November 2020, advised by Saxenhammer.

Previous funding
Saudi Aramco Energy Ventures led a €8m round for NexWafe in December 2017. Wermuth Asset Management, Lynwood and Frauenhofer also participated.

Company
Founded in 2015 and headquartered in Freiburg im Breisgau, NexWafe produces monocrystalline wafers for use in photovoltaic panels. The technology is known as EpiNex and is intended to replace the Czochralski method of producing wafers for solar panels, making the production more efficient. The company employs fewer than 50 people, according to LinkedIn.

People
NexWafe – Davor Sutja (CEO).

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