NexWafe GmbH Lands €10 Million Funding Round, Aims to Cut Solar Production Costs by 30%, Reduce CO2 Emissions by 70%
Summary
FREIBURG, Germany--(BUSINESS WIRE)--NexWafe GmbH, today announced completion of a €10 million capital raise with participation from both existing and new shareholders. Investors in the Series B round include Fraunhofer, Saudi Aramco Energy Ventures, GAP Technology Holding, Lynwood Schweiz AG and Bantina Invest Limited. With this additional cash infusion, NexWafe will move forward with further industrialization of its EpiNex™ green high-efficiency solar wafer technology and begin its pilot manufacturing activities. NexWafe also announced that as it meets these important milestones, Peter Pauli will step down as Chairman of the Board of Directors to devote more time to other commitments. “NexWafe’s EpiNex™ wafers are a key element of the future solar market, as the industry strives to meet expectations in terms of costs and PV efficiency."