07 September 2008

Climate Change Capital Private Equity makes €12m Solar Investment

(LONDON - 9th July 2008 ) Climate Change Capital Private Equity ("CPE"), a €200m fund dedicated to clean technology has made a €12m co-lead investment in Sulfurcell, a German manufacturer of CIS/CIGSe based thin film solar modules. The deal is part of an €85m equity funding into Sulfurcell for a significant expansion of its manufacturing with a new plant in Berlin.

Nikolaus Meyer, CEO of Sulfurcell, said: "We very much appreciated CPE's technical knowledge, investment experience, strategic advice and general support during the fund raising.  This funding round constitutes a major milestone for Sulfurcell towards our goal to become a global leader in CIS/CIGSe thin-film PV and it facilitates our capacity expansion to 75 MW annual production volume, which will enable us to respond to the rapidly increasing demand of our customers in all market segments and to deliver on the promise of CIS/CIGSe thin-film PV technologies.  We welcome Alex Betts to our Advisory Board and look forward to working with him and his colleagues."

CPE manages a €200m clean tech private equity fund raised in 2007, one of the world's largest in this field. Alex Betts, a partner of CPE said: "We are very pleased to be backing Sulfurcells's management team. Nikolaus Meyer and his colleagues have proven Sulfurcell's thin film CIS module manufacturing capability at commercial scale with impressive levels of module efficiency, yield and cycle times and are now embarking on expansion supported by blue chip customer demand.  Our goal is to back high growth clean tech companies, such as Sulfurcell, that contribute to a low carbon economy and a more sustainable environment while at the same time generating attractive returns for our investors."

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Enquiries:

Climate Change Capital
 Daniel Cremin +44 (0)20 7939 5319 dcremin@c-c-capital.com

 

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