According to OPV, these new transparent solar cells can be produced from inexpensive, non-toxic materials and be scaled in any volume. They can be printed directly onto glass in a range of colours making them ideal for use in glazing panels.
This investment will allow OPV to build its own product development and testing facilities at the Begbroke Science Park, near Oxford.
Kevin Arthur, ceo of OPV, said: “Our company is making huge strides in the scale-up and commercialisation of this technology, our new product development facility at Begbroke will incorporate state of the art printing techniques to enable us to manufacture larger modules and begin the technology transfer of our new, high efficiency MSSC technology.
“In addition, our new test and qualification facility will fast track our programme to deliver modules that meet internationally accepted standards and specifications for photovoltaic products.”
David Ward, managing director and head of cleantech investing at MTI, added: “We are delighted with the technical and commercial progress of the business since MTI supported OPV’s spin out in 2011. The company is addressing a huge potential market opportunity and the building of the product development facility is an important step on the road to full commercialisation.
“MTI’s core philosophy is to back innovative, IP rich companies that aim to create value from satisfying major market needs. OPV is an excellent example of the type of business that MTI backs.”