CCC's Clean Tech Fund investment wins European VC Deal of the Year

CPE co-lead the investment in the German manufacturer of CIS/CIGSe based thin film solar modules.

The €12m investment was part of an €85m equity funding to significantly expand the manufacturing with a new plant in Berlin

Europe's largest venture deal in the second quarter of 2008 was the €85 million investment in Sulfurcell Solartechnik, a global leader in the development and manufacturing of photovoltaics. The equity funding primarily involved Climate Change Capital and Intel Capital.

The financing was used for a significant expansion of Sulfurcell manufacturing, with a new plant in Berlin opening for the production of CIS/CIGSe based thin-film solar modules. The new plant will have an annual capacity of 75 MW with an intermediate expansion to 35 MW. With this significant financing Sulfurcell will transfer its proprietary production technology, developed in its pilot plant, into mass production. The round will also fund Sulfurcells long-term oriented development projects.

Dr. Nikolaus Meyer, CEO Sulfurcell, said: "This funding round constitutes a major milestone for Sulfurcell towards our goal of becoming a global leader in CIS/CIGSe thin-film PV field. During its three years of operation, Sulfurcells current pilot production line has been successfully ramped to volume and reached a high level of maturity along all key process indicators including module power, throughput and yield."

For more information please contact the communications team

Tags

CCC's Clean Tech Fund investment wins European VC Deal of the Year