An overseas company invests $50 million to enter the perovskite manufacturing industry

Recently, California based photovoltaic technology company Tandem PV received $50 million in Series A financing and debt, which the company stated will enable it to build a commercial scale manufacturing plant in the United States.

This round of financing is led by Eclipse, a US venture capital firm, Constellation Energy、Planetary Technologies、Uncorrelated Ventures、Trellis Climate、Tom Werner（SunPower  Former CEO, Stifel Bank, CSC Leasing, and other existing and new investors are involved.

With the support of Eclipse, we are no longer just developing breakthrough technologies, but pushing them to market on a large scale, "said Scott Wharton, CEO of Tandem PV. As the global demand for clean energy surges, Tandem PV is stepping up to meet this demand - providing the next generation of solar energy that is stronger, more sustainable, and made in the United States

Tandem PV was founded in 2016 with the aim of developing perovskite silicon thin film solar modules, which are expected to provide industry-leading durability and efficiency combinations. The company reports that its photovoltaic modules currently have an efficiency of 28% and are expected to exceed 30% by the end of 2025, which is 30% higher than the power of ordinary silicon solar panels as claimed by Tandem PV.

With a perovskite layer 200 times thinner than silicon and requiring only 10% of the energy needed to produce traditional panels, the company reports that it will be able to reduce energy usage in the manufacturing process.

The performance and progress of Tandem PV are incredibly exciting, especially considering the minimal breakthroughs in solar technology over the past decade Eclipse partner Greg Reichow said. The impressive durability and efficiency of Tandem PV are unparalleled in the market, and it comes at the right time. By establishing manufacturing plants in the United States, Tandem PV will help meet its growing energy demand while freeing itself from dependence on Chinese and other foreign manufacturers.

Michael Carr, Executive Director of SEMA Alliance, stated upon joining the American Solar Manufacturers (SEMA) Alliance that perovskite technology will be the key to the success of the US manufacturing industry as it has the potential to dominate the solar industry in the coming years. He added, 'Pioneers like Tandem PV are leading this revolution, and as our alliance is committed to bringing the US solar supply chain back, they will be an important addition to our team.'.

Colin Bailie, co-founder and Chief Technology Officer of Tandem PV, developed the world's first perovskite silicon stacked solar cell at Stanford University and founded the company through the US Department of Energy's startup accelerator Activate. Last year, Tandem PV announced a $6 million venture capital round led by existing investor Planetary Technologies, an early-stage venture capital firm, with new fellow investor Uncorrelated Ventures joining the funding round. At that time, it was working on third-party validation of performance indicators, particularly efficiency and durability, and participating in outdoor testing programs.

So far, Tandem PV has raised a total of $83 million in venture capital, debt, and government funds.