GraphEnergyTech, a Lausanne-based start-up with offices in Cambridge, UK, has raised CHF 1.1 million in funding to accelerate the development and scaling of its advanced graphene electrodes for solar cells.
GraphEnergyTech, a promising Swiss-British start-up, has secured CHF 1.1 million in a funding round led by Aramco Ventures, the corporate venturing arm of Aramco, the world’s leading integrated energy and chemicals company. The funding round, which also included participation from existing shareholders, will enable GraphEnergyTech to further develop its innovative graphene-based technology and expand its applications beyond solar cells.
Founded by prominent scientists including Professor Michael Grätzel of EPFL and Professor Andrea Ferrari of Cambridge University, GraphEnergyTech has developed a patented process to replace traditional silver electrodes in solar cells with graphene, a more sustainable and efficient alternative. This novel technology maintains or even improves power conversion efficiencies while addressing the environmental and resource challenges posed by the increasing demand for silver in the solar industry.
Silver, currently the most commonly used material for electrodes, faces increasing demand due to the global expansion of solar power. Research from the University of New South Wales predicts that global silver reserves could be depleted by 2050 if current trends continue. GraphEnergyTech’s graphene electrodes offer a viable solution that reduces dependence on silver and minimizes the environmental impact of electrode manufacturing.
Developing the next generation of solar cells
In addition to solar cells, the company’s graphene technology has potential applications in batteries, supercapacitors, LED lighting and displays. The recent funding will allow GraphEnergyTech to accelerate the development and scaling of these advanced high-conductivity graphene electrodes, bringing the solution to multiple industries.
Thomas Baumeler, CEO of GraphEnergyTech, expressed his satisfaction with the successful fundraising: “We are very happy with the results of the fundraising and the investment from Aramco Ventures. The funds allow us to take development of our advanced graphene electrodes to the next level. They have the potential to play a part in the development of the next generation of solar cells.”
Neil Crabb, CEO of Frontier IP, a co-founder and major backer of GraphEnergyTech, added: “The investment from Aramco Ventures, a world leader in energy investments, represents a strong endorsement of GraphEnergyTech’s technology and the quality of its electrodes. We are excited by the Company’s potential.”
