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Estonian-Austrian maker of flexible solar panels receives EUR 8m investment

12. March 2013

Crystalsol, an Estonian-Austrian joint venture that manufactures solar panels, has secured EUR 8m investment from a group of investors headed by investment company Conor Partners and including Austrian investor company Arax Capital Partners, reports Äripäev.

The company will use the money for developing an entirely new type of flexible photovoltaic film.

Jari Mieskonen, Managing Partner of Conor, said in comment: “Our key focus is on ramping-up a low investment roll-to-roll pilot production line for semifinished photovoltaic film. This semi-finished product will allow true integration into building elements of different shapes and sizes and will thereby eliminate up to one hundred per cent of the sealing cost.”

Co-founder and COO of Crystalsol, Thomas Badegruber, added: “We have made excellent progress and are working on unique semi-transparent and colored films to better integrate photovoltaic elements into facades and roof-tops. Our flexible production process enables us to easily tailor the film according to customer specifications of the Building Integrated Photovoltaic market.”

The unique advantages of Crystalsol’s photovoltaic film already attracted partners like EDP Innovation. The company, belonging to the Portuguese utility group EDP, signed a collaboration agreement to get preferred access to the first 200 MW of product.

Toomas Hõbemägi