HTGF et al. reinvest in Heliatek

Aqton is the investment holding of German entrepreneur Stefan Quandt. All existing backers, including Wellington Partners and eCapital, participated in the organic solar cell developer's third round.

The company has raised €46m since its inception in 2006. The fresh capital will be used for Heliatek's market entry. It is currently supplying building and construction companies and automotive manufacturers with prototypes and pilots.

According to Heliatek, the money will tide the company over until 2016 and enable it to achieve its operational and sales goals. The company also aims to begin production of transparent HeliaFilm by the middle of next year.

Previous funding
In November 2009, Wellington led Heliatek's €18m series-B funding round. Co-investment was provided by industrial investor Bosch, corporate venture capital investors RWE Innogy Ventures and BASF Venture Capital, as well as venture capital firms HTGF and eCapital.

Heliatek received its first round of funding in 2007 from Wellington, HTGF, BASF and Bosch. According to unquote" data, the four investors provided €4m in financing. Wellington used its fourth, technology-focused fund to provide backing. HTGF provided in the region of €500,000, while BASF committed €1.6m.

The remaining €6m in funding has been provided by the Technologiegründerfonds Sachsen Start-up, the Federal Ministry for Education & Research and the Federal Ministry of Economics and Technology.

Company
Heliatek span out of the Technical University of Dresden and the University of Ulm in 2006. It produces organic solar films in a roll-to-roll production process and is a supplier to partners in the building and construction material, automotive and light architectural structure industries.

The company has 75 employees at its facilities in Dresden and Ulm. It claims to hold 12% cell efficiency for opaque solar cells and a transparency of up to 40% when cell efficiency is more than 7%.

People
Paul-Josef Patt is CEO of eCapital. Thibaud Le Séguillon is CEO of Heliatek.

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• Topics
• DACH
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• Germany
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• High-Tech Gründerfonds