Molecular Solar Ltd, a spinout company from the University of Warwick, has achieved a significant breakthrough in the performance of solar photovoltaic (PV) cells. They have achieved and demonstrated a record voltage for organic photovoltaic cells that means these highly flexible, low cost solar cells can now be devolved for commercial uses in a wide range of consumer electronics.
The Company’s most recent advance in the development of its organic photovoltaic (OPV) cell technology is the realisation of cells with open-circuit voltages in excess of 4 volts for the first time. Molecular Solar’s research team believe this is a record for an OPV device. Dr Ross Hatton, Research Director of the company commented:
“This is an important advance. We are now very close to having highly flexible organic photovoltaic cells that will be capable of delivering electrical energy at a voltage suitable for recharging lithium ion batteries that are widely used in portable consumer electronics. Remarkably, this high voltage is achieved using a cell with only 4 junctions (sub-cells)’’.
University of Warwick researcher Professor Tim Jones, who is Chief Technology Officer of Molecular Solar, added:
“The first generation of organic photovoltaics will be exceptionally well matched to consumer electronics applications. The advantage of Molecular Solar’s high voltage cells is that a single cell can be used with no requirement to connect multiple cells in series for these applications, saving manufacturing cost. ’’
Andrew Oldfield, Head of Cleantech at Mercia Fund Management said, “We were attracted to Molecular Solar’s unique approach to realizing truly flexible, environmentally sustainable photovoltaics that are well matched to the burgeoning portable consumer electronics market.”
Molecular Solar are currently finalising a £5m investment round to complete the up-scaling of their OPV and MS-Flexifilm™ electrode technology.
For further information please contact:
Dr Ederyn Williams, Executive Chairman, Molecular Solar Ltd.
T: +44 (0)7531 667222 E: Ederyn@btinternet.com
For science related enquires on this stories contact Professor Tim Jones via Peter Dunn
University of Warwick Tel +44 (0)7767 655860 email firstname.lastname@example.org
Molecular Solar Ltd:
Molecular Solar is a spin-out company from the University of Warwick. The Company has been established to commercialise third generation solar cell technology developed in a multi-million pound R&D programme at the University. The founding team has over 80 years of combined experience developing and commercialising new technology and a track record of success.
Early financial support came from the Founders, the University, Warwick Ventures Ltd., RDA proof of concept funding and a grant from the Technology Strategy Board (TSB).
Warwick Ventures Ltd: www.ventures.warwick.ac.uk
Warwick Ventures Ltd is a subsidiary of the University of Warwick. It has the mission of commercialising the world-leading research of the University, in which £120 million per year is invested. Our aim is to create new enterprises and new products, to build the regional and national economy and to aid the well-being of people. We work with many individuals and commercial partners, who collaborate in product development, invest in our spin-out companies and licence our technologies. Our innovations span a wide range of technologies and sectors, and new innovations emerge every week. For more information, contact:
Quentin Compton-Bishop, CEO, Warwick ventures Ltd.
T: +44 (0)24-7657-5480 E: email@example.com
Mercia Fund Management: www.merciafund.co.uk
Mercia Fund Management has a suite of funds under management. Mercia seeks technology-backed companies seeking early stage, growth and development capital. One such fund, the Mercia Fund 1, is focused on supporting leading technologies, that have achieved proof of principle with global potential in Healthcare (particularly MedTech ), Telecoms, ITC, and Clean Technologies deriving from 8 Universities.
Mercia Fund Management is located on Birmingham Science Park Aston and is authorised and regulated by the Financial Services Authority (FSA). It is a member of the British Private Equity and Venture Capital Association (BVCA). For more information, contact:
Andrew Oldfield, Head of Cleantech, Mercia Fund Management T: +44 (0)7894 452 149 E: firstname.lastname@example.org
17th October 2011