Welsh solar energy pioneer G24 Innovations (G24i) has raised $30m (£15m) in funding from the renewable and alternative energy fund 4RAE.
The company plans to use the investment to expand its production and sales capability.
This is G24i’s second major funding announcement in the last two months following a $20m (£10m) investment by Morgan Stanley Principal Investments in June.
G24i claims to be the world’s first manufacturer of dye-sensitised thin film solar cells, an alternative to traditional silicon solar cells.
The company’s automated ‘roll-to-roll’ manufacturing process transforms a lightweight roll of metal foil into a 100-pound half-mile of dye-sensitised thin film in less than three hours.
The material is rugged, flexible, and lightweight and generates electricity even indoors and in low light conditions.