Tandem PV has raised an additional $6 million, bringing its total to $27 million in venture capital and government support. The company will use the funds to advance research and development and plans to build its first manufacturing facility.
The company is producing tandem perovskite panels with 26% efficiency, which is roughly 25% more powerful than the average silicon solar panel. Tandem PV has demonstrated the equivalent of decades of projected durability in the lab. The company plans to obtain independent industry-standard validation of efficiency and durability, expected to rise further, during 2024.