Cambridge Photon Technology raises £1.6m to boost solar panel efficiency
The funding comprises private equity and a state grant to expand research and development operations.
Share allotment filed at Companies House
A materials science spin-out from the University of Cambridge developing chemical additives to enhance solar panel efficiency.
Cambridge Photon Technology has secured £1.6m in a new funding round to advance its photon-multiplier technology for solar panels. The capital comprises £926k in private equity alongside a £630k grant from Innovate UK. Backing came from a syndicate of institutional investors and funds.
The company plans to direct the proceeds towards scaling up its research and development facilities in Cambridge and executing pilot demonstrations. The funding precedes a planned Series A raise as the firm targets a commercial product launch by 2028.
Investor perspective
"Cambridge Photon Technology exemplifies the kind of transformative innovation needed to accelerate the global transition to sustainable energy and address climate challenges."
Chris Gibbs
Investment Director, Cambridge Enterprise
Use of funds
- 01Fund research and development
- 02Scale operations
Investors
Chris Gibbs
Cambridge Enterprise
Spectrum Impact
Tybourne Capital
Providence Investment Company
SourceSquared
Innovate UK
Categories
About the company
Cambridge Photon Technology
Cambridge Photon Technology develops drop-in materials to increase solar panel power output.