Caelux, a trailblazer in harnessing perovskites for enhanced solar energy generation, has announced the successful closure of a $12 million Series A3 funding round. This funding effort was led by Temasek, a global investment company, and featured participation from prominent investors including Reliance New Energy Limited, Khosla Ventures, Mitsui Fudosan, and Fine Structure Ventures.
The recent funding round adds to the company’s previously raised capital for the Series A, bringing the total to $24 million. The influx of funds will be primarily allocated towards supporting various aspects of Caelux’s operations, including factory expansion, research and development initiatives, and the imminent launch of its innovative solar solution. This infusion of capital arrives at a critical juncture as the world grapples with pressing environmental challenges.
Caelux has garnered attention for its advancements in perovskite technology, paving the way for more immediate and scalable applications in the solar energy sector. The company is actively constructing a manufacturing facility in Baldwin Park, California, and gearing up to produce 100MW of perovskite-coated glass.
Scott Graybeal, CEO of Caelux, emphasized the significance of this funding round, noting the transformative impact of their perovskite technology on the solar energy landscape. He stated, “Our advances in perovskite technology represent a seismic shift in the solar energy industry, providing more powerful, efficient, and cost-effective solar solutions.”
Caelux’s flagship product, Caelux™ One, is poised to significantly advance the industry’s pursuit of commercial tandem solar modules with efficiency exceeding 30%. This milestone, coupled with the product’s durability and reliability, positions Caelux to drive down installation costs, increase revenue for module manufacturers, and offer superior returns on solar projects compared to traditional silicon modules.
Shyam Kamadolli, Managing Director at Fine Structure Ventures, applauded Caelux’s approach, stating, “Caelux is unlocking the promise of perovskite solar cells,” while Rajesh Swaminathan, Partner at Khosla Ventures, praised the company’s practical strides in driving down solar costs and accelerating the growth of renewable energy solutions.
Caelux’s success in securing substantial funding underscores the industry’s recognition of the transformative potential of perovskite technology and its role in shaping a more sustainable energy future.
