QuantaSol (United Kingdom) - Jan 2008

unquote
01 January 2008

Tweet
Facebook
LinkedIn
Google plus
Send to

Low Carbon Accelerator Ltd (LCA) has invested a further £320,000 into solar cells developer QuantaSol Ltd, taking its equity stake in the business to 25.6%. The investment forms part of a £500,000 second tranche of a £1.35m seed funding round, which was co-led by LCA and Imperial Innovations, with additional support from Numis Securities, Netscientific Ltd and Sheffield University Enterprise. The first tranche of funding was provided in June 2007, with all investors agreeing to topup their contributions following the achievement of certain technical milestones. The new capital will be used in on-going product development.

Company

London-based QuantaSol is a specialist developer of solar photovoltaic (PV) cells for use in concentrating photovoltaic (CPV) systems for the growing utility-scale solar power generation market. The PV semiconductor dominates the price of these systems, which use low-cost optics such as mirrors or lenses to concentrate or focus light from a broad collection area onto a smaller area of active semiconductor PV cell material. QuantaSol’s Quantum Well Photovoltaic (QWPV) cells are based on gallium arsenide and other semiconductor materials, which are more expensive than silicon, the material traditionally used for these cells, but have more than double the photovoltaic efficiency and work at much higher sunlight concentrations. This means that less PV material is required to capture a given amount of sunlight, reducing the system cost and cost per watt of output.

People

Stephen Mahon led the investment for LCA.

Sourced from: UK & Ireland unquote" 362 (Feb 2008)