Oxford Photovoltaics (Oxford PV) was last night named as the winner of the Best Early Stage Investment in a Disruptive Technology Business Award at the annual UK Business Angels Association Awards and Gala Dinner, held at the London Film Museum.
The award, which was sponsored by the Technology Strategy Board (TSB), is granted to a start-up or early stage business that has demonstrated that its technology has strong innovative or disruptive capability, addresses a key market, business or societal challenge and has the capacity to achieve high growth.
A spin-out from OxfordUniversity, Oxford PV was given the award in recognition of its new PV technology, which has the potential to deliver low cost, efficient solar cells that can be readily incorporated into glass building facades.
Since the successful completion of a £2.7 million investment round earlier this year, Oxford PV reports that it has made huge strides in the scale-up and commercialisation of its technology, establishing a new high of 15.4 per cent efficiency for its perovskite solar cells.
It has developed its own purpose-built product development and test facilities at the Begbroke Science Park in Oxford and is moving swiftly towards the manufacture and delivery of larger modules that meet internationally accepted standards and specifications for photovoltaic products.
Kevin Arthur, founder and ceo, said: “This Award is great recognition for the existing shareholders who, allied to invaluable government grants, have enabled the Oxford PV team to develop its world-changing technology. We will shortly be inviting new investors to join the team and take a stake in the business to support the development of our new class of solar cell and the ultimate push forward to large scale production.”