Reliance and Partners invest $12M in Caelux's Solar Tech
ECONOMY & POLICY

Reliance and Partners invest $12M in Caelux's Solar Tech

U.S. based perovskite solar cell technology company, Caelux, recently closed a $12 million series A3 funding round. This round was spearheaded by Temasek, a global investment firm, and saw participation from Reliance New Energy, Khosla Ventures, Mitsui Fudosan, and Fine Structure Ventures. With this recent influx, Caelux's total Series A funding has reached $24 million. The funds are earmarked for the establishment of a manufacturing facility in Baldwin Park, California, with the goal of producing 100 MW of perovskite-coated glass. Additionally, the investment will bolster the company's R&D efforts, particularly in advancing perovskite technology for large-scale deployment. Caelux also unveiled plans to introduce its new product, Caelux™ One, targeting 30% efficiency in commercial tandem solar modules. Scott Graybeal, Caelux's CEO, emphasised the transformative potential of their perovskite technology in the solar sector. Notably, this marks Reliance New Energy's second investment in Caelux. In September 2022, Reliance acquired a 20% stake in Caelux for $12 million, aiming to produce high-efficiency, cost-effective solar modules at its Jamnagar-based gigafactory.

U.S. based perovskite solar cell technology company, Caelux, recently closed a $12 million series A3 funding round. This round was spearheaded by Temasek, a global investment firm, and saw participation from Reliance New Energy, Khosla Ventures, Mitsui Fudosan, and Fine Structure Ventures. With this recent influx, Caelux's total Series A funding has reached $24 million. The funds are earmarked for the establishment of a manufacturing facility in Baldwin Park, California, with the goal of producing 100 MW of perovskite-coated glass. Additionally, the investment will bolster the company's R&D efforts, particularly in advancing perovskite technology for large-scale deployment. Caelux also unveiled plans to introduce its new product, Caelux™ One, targeting 30% efficiency in commercial tandem solar modules. Scott Graybeal, Caelux's CEO, emphasised the transformative potential of their perovskite technology in the solar sector. Notably, this marks Reliance New Energy's second investment in Caelux. In September 2022, Reliance acquired a 20% stake in Caelux for $12 million, aiming to produce high-efficiency, cost-effective solar modules at its Jamnagar-based gigafactory.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code