PV Nano Cell Has Completed a $3.5m Funding Round
Poster: SySAdmin
Posted on August 22, 2013 at 3:07:01 AM
PV Nano Cell Has Completed a $3.5m Funding Round
TEL AVIV, Israel, August 22, 2013 /PRNewswire/ --
PV Nano Cell Ltd. [http://www.pvnanocell.com/index.aspx ], which develops and
manufactures innovative nano metric materials that enable non-contact printing of
conductive patterns in solar cells and for Printed Electronics, reports having completed a
funding round of approximately $3.5 million. The round was led by the Infinity IP Bank
(China) participating also the Israel Electric Corporation's Karat program, Slobel
(Belgium), and Terra VP venture capital fund. Terra VP was also the seed investor ~ $ 1.5
M. To date, PV Nano Cell has raised an approximate total of $5.5 million from investors,
including the Chief Scientist at the Israeli Ministry of Economy and the Ministry of
Energy and Water resources.
PV Nano Cell (PVN) is developing disruptive technology that achieves significant cost
reduction in the manufacturing process of silicon cells as well as in Printed Electronics
through inkjet printing of inks based on nano metric crystal materials. Inkjet printing, a
well-known mass production printing technology in many industrial fields, is penetrating
the electronic market in general and the silicon solar cell field in particular.
PVN inkjet conductive inks are the market enabler for inkjet printers' producers &
substantial cost reduction enabler for Printed Electronic applications and Solar cells
non-contact metallization (generating savings of 20% on cost per watt for silicon cells)
as well as substantially reducing hazardous waste effluents in the production processes.
PVN is introducing to the market the first cost efficient conductive ink, based on
stable Nano copper particles enabling a wide market penetration of inkjet digital
conductive printing through excellent ink stability, printing and conductive properties
and low wide commercially viable prices (as the inks are based on significantly cheaper
metal - $ 8/kg for copper versus 750/kg for silver).
Currently, the company is in the advanced stages of forming a joint venture in China,
with a $2.5 million fund invested by the Chinese partner.
PV Nano Cell was founded in early 2010 by Dr. Fernando de la Vega, a PhD in applied
chemistry and expert on nano-metric materials. According to de la Vega, who currently
serves as the company's CEO, the technology developed by the company is not limited to
printing photovoltaic cells, and is also expected to be utilized in other fields. "The
company is stimulating great interest from potential investors and customers, mainly
because the inks that we've developed allow for significantly reduced costs in the
printing of conductive patterns. So far, we have focused on the photovoltaic market, we
intend to expand by applying our technologies to additional applications, such as printing
of various flexible electronic devices".
About Infinity IP Bank [http://www.infinity-equity.com ] (IPB) - Established in China,
March 2010 by Infinity Group and Suzhou Industry Park (SIP). Infinity IP Bank is focused
on bring international Advanced Mature Tech/ IP which also have a high potential in China
and commercialize them in China. Infinity IP Bank and its partners are dedicated to
helping local government and Hi-tech parks attract investment nurturing innovation and
quickening industry transformation helping China change from a manufacturing center to an
innovation center.
About Terra Venture Partners [http://www.terravp.com ] - The leading early stage
Cleantech venture capital fund in Israel. Terra invests in promising seed and early-stage
start-ups led by top entrepreneurs in energy, water and other environmental sectors, that
make business sense while solving some of the world's biggest problems. Terra is managed
by its two partners: Dr. Astorre Modena and Dr. Harold Wiener.
About Israel Electric Corporation [http://iec.co.il/EN/Karat/Pages/default.aspx ]
(IEC) - The IEC has established an internal venture unit, KARAT (the Hebrew acronym for
"Accelerating Technological Ideas") which provides a framework of investment and support
services to develop, advance, and commercialize innovative ideas in energy-related fields.
KARAT advances innovative ideas related to energy by encouraging and collaborating with
entrepreneurs and other innovators to form, support, and finance very early stage business
ventures for the commercialization of these ideas.
Media relations:
Omri Salner
Ofir Shpigel Media and Public Relations
+972-4-9535030
Efrat@ofirpr.co.il
PV Nano Cell Ltd
TEL AVIV, Israel, August 22, 2013 /PRNewswire/ --
PV Nano Cell Ltd. [http://www.pvnanocell.com/index.aspx ], which develops and
manufactures innovative nano metric materials that enable non-contact printing of
conductive patterns in solar cells and for Printed Electronics, reports having completed a
funding round of approximately $3.5 million. The round was led by the Infinity IP Bank
(China) participating also the Israel Electric Corporation's Karat program, Slobel
(Belgium), and Terra VP venture capital fund. Terra VP was also the seed investor ~ $ 1.5
M. To date, PV Nano Cell has raised an approximate total of $5.5 million from investors,
including the Chief Scientist at the Israeli Ministry of Economy and the Ministry of
Energy and Water resources.
PV Nano Cell (PVN) is developing disruptive technology that achieves significant cost
reduction in the manufacturing process of silicon cells as well as in Printed Electronics
through inkjet printing of inks based on nano metric crystal materials. Inkjet printing, a
well-known mass production printing technology in many industrial fields, is penetrating
the electronic market in general and the silicon solar cell field in particular.
PVN inkjet conductive inks are the market enabler for inkjet printers' producers &
substantial cost reduction enabler for Printed Electronic applications and Solar cells
non-contact metallization (generating savings of 20% on cost per watt for silicon cells)
as well as substantially reducing hazardous waste effluents in the production processes.
PVN is introducing to the market the first cost efficient conductive ink, based on
stable Nano copper particles enabling a wide market penetration of inkjet digital
conductive printing through excellent ink stability, printing and conductive properties
and low wide commercially viable prices (as the inks are based on significantly cheaper
metal - $ 8/kg for copper versus 750/kg for silver).
Currently, the company is in the advanced stages of forming a joint venture in China,
with a $2.5 million fund invested by the Chinese partner.
PV Nano Cell was founded in early 2010 by Dr. Fernando de la Vega, a PhD in applied
chemistry and expert on nano-metric materials. According to de la Vega, who currently
serves as the company's CEO, the technology developed by the company is not limited to
printing photovoltaic cells, and is also expected to be utilized in other fields. "The
company is stimulating great interest from potential investors and customers, mainly
because the inks that we've developed allow for significantly reduced costs in the
printing of conductive patterns. So far, we have focused on the photovoltaic market, we
intend to expand by applying our technologies to additional applications, such as printing
of various flexible electronic devices".
About Infinity IP Bank [http://www.infinity-equity.com ] (IPB) - Established in China,
March 2010 by Infinity Group and Suzhou Industry Park (SIP). Infinity IP Bank is focused
on bring international Advanced Mature Tech/ IP which also have a high potential in China
and commercialize them in China. Infinity IP Bank and its partners are dedicated to
helping local government and Hi-tech parks attract investment nurturing innovation and
quickening industry transformation helping China change from a manufacturing center to an
innovation center.
About Terra Venture Partners [http://www.terravp.com ] - The leading early stage
Cleantech venture capital fund in Israel. Terra invests in promising seed and early-stage
start-ups led by top entrepreneurs in energy, water and other environmental sectors, that
make business sense while solving some of the world's biggest problems. Terra is managed
by its two partners: Dr. Astorre Modena and Dr. Harold Wiener.
About Israel Electric Corporation [http://iec.co.il/EN/Karat/Pages/default.aspx ]
(IEC) - The IEC has established an internal venture unit, KARAT (the Hebrew acronym for
"Accelerating Technological Ideas") which provides a framework of investment and support
services to develop, advance, and commercialize innovative ideas in energy-related fields.
KARAT advances innovative ideas related to energy by encouraging and collaborating with
entrepreneurs and other innovators to form, support, and finance very early stage business
ventures for the commercialization of these ideas.
Media relations:
Omri Salner
Ofir Shpigel Media and Public Relations
+972-4-9535030
Efrat@ofirpr.co.il
PV Nano Cell Ltd