Caelux, a trailblazer in the utilization of perovskite technology to enhance the efficiency and affordability of solar energy, has concluded a Series A3 funding round, securing an impressive $12 million.
The funding was spearheaded by Temasek, a prominent global investment company, and attracted participation from esteemed entities such as Reliance New Energy, Khosla Ventures, Mitsui Fudosan, and Fine Structure Ventures.
This new funding round contributes to a grand total of $24 million raised for the Series A stage. The influx of capital will be primarily channeled towards supporting Caelux’s factory expansion, intensive research and development efforts, and the forthcoming product launch. This strategic allocation positions Caelux to introduce a more potent, efficient, and budget-friendly solar solution to the market, a crucial undertaking amid the contemporary backdrop of environmental challenges.
The infusion of investment capital closely follows Caelux’s breakthroughs in perovskite technology, an accomplishment that has expedited the feasibility of scaling up deployment in the near term. With this technological advancement on the horizon, the company is in the process of constructing a manufacturing facility in Baldwin Park, California, geared towards producing up to 100 megawatts of perovskite-coated glass.
Scott Graybeal, the CEO of Caelux, emphasized the significance of this funding milestone, stating, “This funding round underscores the groundbreaking strides we are making at Caelux. Our advancements in perovskite technology signify a transformative shift in the solar energy sector, offering more potent, efficient, and cost-effective solar solutions.”
At the forefront of the company’s offerings is the Caelux One product, poised to mark a substantial leap forward in achieving the industry’s target of exceeding 30 percent efficiency in commercial tandem solar modules, all while satisfying market requisites for durability.