The cells can reportedly be produced from inexpensive, abundant, nontoxic and non-corrosive materials and be scaled to any volume. They can be printed directly onto glass in a range of colours, making them suitable for use in glazing panels and facades.
The £2m investment round allows OPV to increase personnel teams and build a product development and test facilities at the Begbroke Science Park near Oxford.
The financing was led by MTI through its UMIP Premier Fund (UPF) alongside investment from the University of Oxford and a number of private investors.
“Our company is making huge strides in the scale-up and commercialisation of this technology,” said Kevin Arthur, CEO of OPV. “Our new product development facility at Begbroke will incorporate state of the art printing techniques to enable us to manufacture larger modules and begin the technology transfer of our new, high efficiency MSSC technology.
“In addition, our new test and qualification facility will fast track our programme to deliver modules that meet internationally accepted standards and specifications for photovoltaic products.”