Press release -
AMF invests SEK 277 million in Exeger that recently signed its first commercial contract with major global brand
[Stockholm] Swedish pension company AMF invests SEK 277 million (EUR 26.2 million) in Exeger Sweden AB (Publ), a Swedish solar technology company. Exeger develops and produces novel printable solar cells for use in consumer electronics, smart homes, and other applications. The investment gives AMF a 6% ownership in the company and aims to diversify their portfolio and increase returns for their investors.
The Exeger solar cell works efficiently in ambient light conditions, in both artificial and natural light, with the potential to enable self-powered devices. Exeger intends to change the perception of available energy by integrating the solar cell into mass market products. It is the only solar cell that can be printed in free-form and different colors, allowing it to seamlessly enhance any product with endless power.
Exeger has recently initiated a robotization project to enable fully automated production in its next factory. The team of nearly 100 employees is continuously growing. In March 2019 Exeger secured funding from SoftBank Group Corp, while also entering a strategic partnership agreement with the SoftBank subsidiary SB Energy.
“AMF is one of the most prestigious investment companies in Sweden which makes this a very proud moment for me and Exeger. Their long-standing tradition of backing Swedish industry makes AMF such a good long-term investor for Exeger.” Says Giovanni Fili, CEO and Founder of Exeger.
The investment comes at the back of Exeger’s first commercial contract signed with a leading global consumer company.
“After securing funding from SoftBank earlier this year, then our first signed contract and now backing from a Swedish giant like AMF, the self-powered revolution is coming. You will see our solar cell integrated into products on the shelves in 2020 and this is only the beginning.” Says Giovanni Fili, CEO and Founder of Exeger.
AMF is a leading Swedish pension company with approximately 380 employees and 4 million customers. The company is owned equally by the Swedish Trade Union Confederation (LO) and the Confederation of Swedish Enterprise, and is operated on mutual principles. AMF has around SEK 600 billions in assets under management, and is one of the largest owners on the Stockholm Stock Exchange. AMF Fonder and AMF Fastigheter are wholly owned subsidiaries of AMF.
Exeger manufactures the world’s best solar cells. It seamlessly enhances any product in both natural and artificial light. Exeger’s vision is of a better world where any surface can be power generating through ambient light. The company’s goal is to change the perception of available energy by integrating self-power into everyday devices, the brighter the better. Effortless and endless energy will drive global change into a new age of innovation and sustainability.