Cambridge Photon Expertise (CPT), a deep tech startup growing photon-multiplier expertise to make photo voltaic panels extra environment friendly, has landed a £1.56m funding.
A spinout from the College of Cambridge, CPT is working to allow silicon photo voltaic panels to generate extra energy by changing wasted daylight into usable mild.
It does this by changing high-energy photons that are usually misplaced as warmth into infared-photons that may be absorbed by silicon panels.
The agency described its expertise as a “drop-in resolution” that may match into commonplace photo voltaic modules with out the necessity for redesigns.
The pre-Collection A funding is comprised of a £926,000 fairness funding and a £630,000 grant from Innovate UK.
“This funding demonstrates robust private-sector confidence in CPT’s expertise and imaginative and prescient,” mentioned Dr Claudio Marinelli, chief government of CPT.
“Attracting backing from main buyers throughout the UK, India and Asia underlines the worldwide relevance of our method and its potential to remodel photo voltaic effectivity at scale.
“Collectively, this funding positions CPT to speed up product readiness and convey a breakthrough British innovation to the worldwide clean-energy market.”
The fairness funding included backing from Cambridge Enterprise Ventures, Spectrum Impression, Tybourne Capital, Windfall Funding Firm and SourceSquared.
“Cambridge Photon Expertise exemplifies the form of transformative innovation wanted to speed up the worldwide transition to sustainable vitality and deal with local weather challenges,” mentioned Chris Gibbs, funding director at Cambridge Enterprise Ventures.
“We’re proud to have supported the corporate from the start and now on this subsequent thrilling part of its journey.”
