Following a first seed financing round in January 2018, Insolight’s technology has established a world record efficiency of more than 29% for flat solar panels, as certified by the IES-UPM (Solar Energy Institute of the University of Madrid).
The Series A financing round of CHF 5 million, together with the EUR 10 million HIPERION grant from the EU, will enable Insolight to start producing and selling its modules. "The panels are prepared in Spain, after which the production line will be set up at the CSEM in Neuchâtel," explains Laurent Coulot, CEO and co-founder of Insolight.
Insolight intends to sell its first modules to large solar energy corporates for applications in agrivoltaics. There is a unique potential for high efficiency and translucent modules to produce both solar electricity and crops on the land, whether deployed on fields or greenhouses. The nascent agrivoltaic market already represents 5 GWp of installed power with a market size estimated to CHF 700 million.
Solar modules with record efficiency
Insolight is based at the EPFL Innovation Park in Lausanne, canton of Vaud, developing next-generation solar PV panels. The technology is based on a patented optical technology, which was validated at 29% efficiency in a standard flat module.
The company has established strong partnerships with major industrial players as well as world-class research centers. It is supported by private investors and several EU programs, and is part of the HIPERION project consortium (HybrId Photovoltaics for Efficiency Record using Integrated Optical techNology).