Heliatek Receives $27M for Organic Solar Cell Development

Dec 2 2009 | 8:42am ET

Germany’s Heliatek GmbH, a developer of organic solar cells, has raised $27 million in a second round of financing led by the European venture capital fund Wellington Partners.

The round also included industrial investor Bosch and the corporate venture capital investors RWE Innogy Ventures and BASF Venture Capital, the High-Tech-Gründerfonds, eCAPITAL Entrepreneurial Partners AG, the Technologiegründerfonds Sachsen Start-up GmbH & Co. KG and GP Bullhound Sidecar.

Heliatek, established in 2006 as a spinout from the Universities of Dresden and Ulm, will use the funding to build its first factory. The Dresden facility will produce flexible and lightweight (500 grams per square meter compared to the current average of 25 kilograms per square meter) PV modules on film substrate.

“We believe that truly break-through third-generation technologies that bring PV well beyond grid parity will be the success stories of the future, and we think Heliatek is excellently positioned to capture that opportunity,” explained Bart Markus, general partner of Wellington Partners.

Heliatek was advised on this round of financing by the leading European investment bank for technology companies GP Bullhound. Heliatek employs a total workforce of 30 people at its locations in Dresden and Ulm. Two strategic investors, BASF and Bosch, participated in an initial round of financing in June 2007, as did Wellington Partners.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.