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Exeger secures MSEK 135 in funding, Wallenstam becomes new partner

Press release   •   Apr 12, 2013 07:27 CEST

”We are focused on building strong relationships with future clients in order to understand how to design our products to be successful in the market. By welcoming Wallenstam as one of our owners we establish a relationship with the most environmental friendly real estate company in Sweden which also has a strong strategic profile within renewable energy sources”, says Giovanni Fili, CEO Exeger”

“Exeger’s technology has the potential to commercialise solar cells as a competitive energy source even in Swedish conditions. The fact that their solar cells can be seamlessly integrated in roofs and facades make them unique”, says Christer Villard, Chairman of the board Wallenstam.

The total funding of MSEK 135 is allocated from owners with MSEK 75 and a loan from the Swedish Energy Agency with MSEK 60. Funds are used to build and demonstrate industrial production of solar cells developed by the company.  Exeger is planning a production capacity of 20 MW annually, which is one of the world’s largest. The production facility is expected to be up and running by end of 2014.

The solar cells developed by Exeger are called Dye Sensitized Solar Cells (DSC) or Grätzel cells after the inventor professor Michael Grätzel. DSCs are produced with basic technologies and abundant materials. The company has multiple patents and patent applications which enable production of efficient and cheap solar cells with tailor made design. DSC can harvest energy even in low light conditions, making the cells suitable for both indoor and outdoor applications.

The built environment represents around 40% of world energy consumption. Exeger aims to integrate its solar cells in facades, windows and rooftops. Consumer electronics is also expected to represent a large market for the company’s cells. The solar cells could be used to prolong the battery time for mobile devices such as lap tops and tablets.

Previous owners consist of Fasadglas Bäcklin, industrial investor Dick Carrick (previous co-owner of Domsjö Fabriker), private investors and the management.

As a consequence of the transition from an R&D company to an industrial manufacturer the company is changing name from NLAB Solar to Exeger Sweden AB. The new name has been preliminary approved by the Swedish Companies Registration Office prior to the final decision of the AGM held at April 23rd.

For further information please contact:

CEO Giovanni Fili, phone: 0735 300 000 or e-mail: giovanni@nlabsolar.com