Heliatek, a Germany-based organic photovoltaic thin-film manufacturer, has secured a EUR 80 million ($88 million) round to finance the expansion of its HeliaFilm manufacturing capacity.
Heliatek plans to install a new manufacturing roll-to-roll facility on its site in Dresden, Germany, over the next 18 months. The company says it expects the expansion, as well as continued demand for HeliaFilm, to create more than 50 new high-tech jobs.
“This allows us to strengthen our world leadership in organic solar film and to accelerate our expansion,” stated Thibaud Le Séguillon, Heliatek CEO. “We will follow our strategy by expanding the BIOPV – building-integrated organic photovoltaic – market through supplying large quantities of our HeliaFilms to our customers in the building and construction material field.”
This round comprises EUR 42 million in equity, EUR 20 million in debt and about EUR 18 million in subsidies. European company innogy SE led the round, and new investors included ENGIE, BNP Paribas and CEE Group, an investment company of Lampe Equity Management specialized in renewable energy. The existing investors, AQTON, BASF, eCAPITAL, High-Tech Gründerfonds, Innogy Venture Capital, TUDAG and Wellington Partners, also participated.