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December 21, 2023

Exeger Secures €35M Loan from European Investment Bank in Solar Tech Advancement

Swedish clean tech Exeger, behind the groundbreaking Powerfoyle solar cell technology, stepped into the limelight

The sun is shining bright on the future of sustainable energy in Europe as nearly 17 million homes bask in the glow of solar power, marking a remarkable 40% surge in installations from the previous year. In the quest for cleaner and more efficient solutions, a fleet of solar tech startups, including Sunsave, Otovo, and SunRoof, has garnered substantial funding. Adding to this solar revolution, Swedish clean tech firm Exeger, the mastermind behind Powerfoyle solar cell technology, recently clinched a significant loan agreement with the European Investment Bank (EIB) to the tune of €35 million. This financial boost is set to elevate Exeger's production capacity and, consequently, the adoption of its groundbreaking solar tech.

Exeger plans to channel this financial infusion into scaling up production at its second urban factory, Stockholm II, strategically located in Kista, just outside Stockholm. With sustainability at the forefront, Stockholm II operates on 100% renewable energy. The expansion will empower Exeger to manufacture up to 2.5 million m2 annually of its patented solar cells, known as Powerfoyle. This modular and scalable production approach aligns with the surging market demand for Powerfoyle, a technology that converts both indoor and outdoor light into electricity.

Founded in 2009 by Giovanni Fili, Exeger is renowned for its Dye-Sensitised Solar Cells (DSC), seamlessly integrated into the Powerfoyle solar cell technology. This innovation not only harnesses the power of ambient light but also transforms it into electricity, making electronic devices with low energy consumption self-powered. The versatile ultra-thin solar cells offer a flexible design, allowing companies to embed self-charging capabilities into their products without sacrificing aesthetics. Powerfoyle's potential extends beyond reducing electronic waste, offering superior performance in both indoor and outdoor applications.

Exeger's commitment to sustainability echoes in its collaborations, including partnerships with Adidas and Urbanista for self-powered headphones and earphones. The company recently announced an upcoming collaboration with industry giants 3M and Philips, with product unveilings scheduled for CES 2024 in Las Vegas. Exeger's pioneering technology aims not only to generate renewable power but also to make substantial strides in reducing electronic waste.

As the European solar landscape evolves, Exeger's strategic investment in Stockholm II supported by the EIB positions it at the forefront of the green transition. The €35 million loan signifies not just a financial transaction but a pivotal endorsement of Exeger's mission to shape a sustainable energy industry in Europe. The sun continues to rise, not just in the sky but also on the future of solar technology, with Exeger leading the charge toward a greener and more energy-efficient tomorrow.

Josefina Dipaolo
Josefina Dipaolo
Content writer at TechNews180
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