GraphEnergyTech, a Cambridge spin-out pioneering various electrodes for photo voltaic panels, has secured £1 million in funding from an funding spherical led by Aramco Ventures, the enterprise capital arm of Saudi Aramco.
The corporate has developed a novel conductive graphene ink for photo voltaic panel electrodes, providing a extra sustainable and cost-effective various to the silver historically used. This breakthrough expertise is especially vital as silver, whereas extremely conductive, faces provide constraints amidst rising photo voltaic demand.
GraphEnergyTech’s conductive graphene ink, derived from a course of tailored from the pharmaceutical trade, successfully replaces silver in photo voltaic cells. On condition that silver accounts for nearly 14% of worldwide consumption for photo voltaic demand—a determine projected to rise—the trade is worried about potential shortages. The College of New South Wales predicts that the photo voltaic sector might deplete 85-98% of the world’s silver reserves by 2050.
Dr Thomas Baumeler, CEO of GraphEnergyTech and a PhD graduate in photo voltaic power, emphasised the corporate’s deal with photo voltaic panel producers however highlighted potential purposes in different sectors. “We are initially targeting solar panel manufacturers due to our expertise, but we are also exploring applications in batteries with a Korean partner,” Baumeler stated.
GraphEnergyTech has garnered vital help from influential figures within the scientific group, together with Michael Grätzel, a number one innovator in photo voltaic panel expertise and Baumeler’s PhD supervisor. Grätzel’s involvement has opened doorways for the corporate throughout the trade.
Uniquely, GraphEnergyTech is a twin spin-out from each the College of Cambridge, by means of the Cambridge Graphene Centre, and the Swiss Federal Institute of Know-how Lausanne.
Frontier IP, an AIM-listed co-founder of GraphEnergyTech, which holds a 23.97% fairness stake within the enterprise, is anticipated to verify the funding information on Monday.
