Epishine’s organic solar cells for indoor use meet the need for a wireless renewable energy source for the rapidly growing IoT-market.
Epishine has developed a pioneering, patented process for printing organic solar cells with industry-leading low-light efficiency. They have just launched their first product on the world market: a small-scale solar cell that harvests indoor light to supply power to IoT products. They have received 80 million SEK (EUR 8 million) to position themselves as the market leader in printed solar cells.
AxSol, the solar energy group of Swedish family-owned conglomerate Axel Johnson, has over the past two years made four investments in Nordic solar energy companies and has led the current financing round in Epishine. The issue amounts to a total of 80 million SEK (EUR 8 million), with AxSol joining previous investors, such as Almi Invest GreenTech, Karl-Johan Persson’s investment company Philian, Beijers Ventures and Vigo Carlund. With this financing round, AxSol becomes Epishine’s largest individual shareholder with an ownership share of 20 percent.
Epishine was founded in 2016 on the basis of over 30 years of research in organic electronics and photovoltaics. The company, located in Linköping, Sweden, has with great success in the past year developed its thin, flexible organic solar cells optimized for harvesting indoor light.
The increasing demand for optimized energy solutions for wirelessly connected IoT devices creates strong growth opportunities for Epishine’s technology, with application capabilities across a wide range of low-energy indoor product categories. In addition to the initial products’ focus on prop-tech, to in-store product and price signage, the solar cell’s applications include wireless sensors, electronic locks and smoke alarms within the real estate sector.
Read more: EPISHINE RECEIVES 80 MILLION SEK (EUR 8 MILLION) – AXSOL BECOMES LARGEST INDIVIDUAL SHAREHOLDER
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