“We are finishing the manufacturing line; we will be in production in the next few weeks,” Thibaud Le Seguillon, CEO of Heliatek, said in an interview.
Production will take place at the company’s new Dresden factory, which took 14 million euro (about $18 million) to construct. Future plans involve a second, much larger, fab, also to be built in Dresden. Before the second line can be made, Heliatek will have to raise further funds—60 million euro (about $75 million). It has 25 million euro pledged already from investors, which include BASF, Bosch, RWE, Wellington Partners, eCapital, Hightech Grunderfonds, TGFS and GP Bullhound.
“Organic photovoltaic is an important next generation technology for BASF,” said Dirk Nachtigal, Managing Director of BASF Venture Capital. That’s why BASF is developing new organic materials for solar cells that enable efficient and competitive energy generation. “In order to fully exploit the potential of this innovative technology, our collaboration with partners like Heliatek is of strategic importance,” continued Nachtigal.
In terms of recruiting investors, Heliatek has working in its favor the fact that it is a renewable energy technology company involved in manufacturing for export, traditionally a selling point. But on the down side, investors will likely be wary of photovoltaic companies, which have seen many bankruptcies over the last few years.
For more information about Heliatek GmbH and its organic-based photovoltaics, visit Heliatek.com.