Tandem PV, a San Jose, CA-based American perovskite solar technology company, raised $50M in Series A funding.
The round was led by Eclipse, with participation from Constellation Energy, Planetary Technologies, Uncorrelated Ventures, Trellis Climate, Tom Werner, Stifel Bank, CSC Leasing, and other existing and new investors.
The company intends to use the funds to construct a commercial-scale manufacturing facility in the U.S., accelerating the adoption of its solar panels and allowing the U.S. to reduce its dependency on foreign manufacturers while increasing its energy security.
Its co-founder and CTO, Colin Bailie, developed the first perovskite-silicon tandem solar cell at Stanford University and launched the company through Activate, the U.S. Dept. of Energy startup accelerator. Now led by CEO Scott Wharton, Tandem PV is driving the transition to a net-zero economy by developing state-of-the-art perovskite-based solar panels, which combine the durability and efficiency needed for broad scale deployment. The company will produce its solar panels domestically.
