- NexWafe GmbH secures a €30M investment to accelerate the construction of its first commercial-scale facility in Bitterfeld, Germany.
- The funds will be used to establish a commercial facility that produces more efficient and cost-effective green solar wafers.
- NexWafe’s patented manufacturing solution simplifies polysilicon production, reducing energy use and production time.
- The company’s process also contributes to reduced CO2 emissions, creating a genuinely green solar-energy supply chain.
Accelerating the Renewable Energy Transition
NexWafe GmbH, a solar wafer manufacturer, has obtained a €30M investment to expedite the construction of their first commercial-scale facility in Bitterfeld, Germany. The funds come from a group of current investors, including Reliance New Energy Limited, Aramco Ventures, and ATHOS Venture GmbH, as well as new investors such as the Honorable Malcolm Turnbull AC and Keshik Capital, led by Alex Turnbull. NexWafe plans to raise additional funding in the second half of this year.
A Vision for Enhanced Solar Energy
Davor Sutija, CEO of NexWafe, stated that this investment is the initial step toward securing substantial funds in the latter half of 2023. The funds will be utilised to commence the construction of NexWafe’s first commercial facility. Their aim is to accelerate the renewable energy transition by providing more efficient, cost-effective green solar wafers to global photovoltaic manufacturers.
Collaborative Efforts for a Sustainable Future
In parallel, NexWafe has agreed to collaborate with Aramco Ventures on a future green solar wafer manufacturing facility in the Kingdom of Saudi Arabia. This collaborative agreement will involve participation from Aramco Ventures’ $1.5 billion Sustainability fund.
Revolutionising Solar Wafer Manufacturing
NexWafe’s patented green solar wafer manufacturing solution simplifies polysilicon production, reducing energy consumption and production time. This results in significantly lower costs for n-type monocrystalline wafers used in high-performing solar modules. Their unique manufacturing method allows customised engineering of wafers to meet individual customer requirements, achieving performance parity with commercially available Czochralski (CZ) wafers and ultimately delivering higher solar cell efficiencies.
A Green and Resilient Supply Chain
NexWafe’s process supports urgent U.S. and European efforts to reshore domestic solar wafer manufacturing and increase supply chain sourcing diversity and resilience. By reducing CO2 emissions, NexWafe contributes to a genuinely green solar-energy supply chain.