Kernel Capital has confirmed its participation in a syndicated investment in Dublin-based Nines Photovoltaics, a solar cell equipment technology company.
The Fund committed €350,000 alongside existing investor Business Venture Partners (BVP), full details of this substantial investment round, which involved additional parties, have not been disclosed.
It is claimed that energy from one hour of sunlight on the earth’s surface would be sufficient to meet the world’s annual electricity needs if it could be captured and stored, yet the technology to harvest this energy remains too expensive for solar electricity generation to become a mainstream source of electricity.
Technology designed by Nines is said to be focused on reducing this cost by changing the processes used to manufacture solar cells, reducing the production cost whilst increasing cell efficiencies.
In collaboration with Fraunhofer ISE in Freiburg, Germany, the Nines team is now validating their first silicon wafer processing tool in a production environment.
To date Nines technology has demonstrated improved reflection properties of solar cells advancing their energy capture and efficiency. Nines is claimed to be the first company to offer a dry process solution providing high throughput and using only environmentally-friendly chemicals to replace the existing 30 year-old water-based chemical etching process currently used in solar cell manufacturing..
Nines will use this round of funding to facilitate the completion of their process development work and to launch their product into the market.