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					</table><p><a href="https://caelux.com/" target="_blank" rel="noopener">Caelux</a>, a U.S.-based perovskite solar cell technology firm, has announced the closure of a $12 million series A3 funding round led by <a href="https://www.temasek.com.sg/en/index" target="_blank" rel="noopener">Temasek</a>, a global investment company, to support the company’s factory expansion, research and development, and new product launch.</p>
<p><a href="https://www.ril.com/OurBusinesses/New-Energy.aspx" target="_blank" rel="noopener">Reliance New Energy</a>, <a href="https://www.khoslaventures.com/" target="_blank" rel="noopener">Khosla Ventures</a>, <a href="https://www.mitsuifudosan.co.jp/english/" target="_blank" rel="noopener">Mitsui Fudosan</a>, and <a href="https://finestructure.vc/" target="_blank" rel="noopener">Fine Structure Ventures</a> were the other participants in the financing round.</p>
<p>With the recent round, the total Series A funding raised by the company comes to $24 million.</p>
<p>The funding will support the company’s plan to build a manufacturing facility in Baldwin Park, California, and ramp up to reach 100 MW of perovskite-coated glass. It will also help support the company’s advancements in perovskite technology to achieve deployment at scale.</p>
<p>The company also plans to launch its new product, Caelux™ One, which aims to achieve 30% efficient commercial tandem solar modules. The modules are expected to have enhanced scalability, durability, and reliability, reducing the installation costs for developers and installers.</p>
<p>Scott Graybeal, CEO of Caelux, said, “Our advances in perovskite technology represent a seismic shift in the solar energy industry, providing more powerful, efficient, and cost-effective solar solutions. This investment will support our mission to usher in the next generation of solar innovation, including our production of full-size perovskite sub-modules.”</p>
<p>For Reliance New Energy, this will be the second investment in Caelux. In September 2022, the wholly owned subsidiary of Reliance Industries <a href="https://www.mercomindia.com/reliance-acquires-20-stake-module-technology-caelux-12-million" target="_blank" rel="noopener">acquired</a> a 20% stake for $12 million in Caelux, which would help Reliance produce higher efficiency and low-cost solar modules at its Jamnagar, Gujarat-based gigafactory, where an integrated photovoltaic plant is being set up.</p>
<p>The investment was also expected to allow Caelux to build its pilot line in the U.S.</p>
<p>Reliance New Solar Energy was amongst the winners of India’s Production-Linked Incentive program for solar module manufacturing and was <a href="https://www.mercomindia.com/reliance-renew-tata-power-winners-pli-11" target="_blank" rel="noopener">allotted</a> ₹31 billion (~$372.74 million) to develop 6 GW of integrated polysilicon, wafer, cell, and module manufacturing capacity.</p>
<p>According to Mercom Capital Group’s <a href="https://mercomcapital.com/product/1h-q2-2023-solar-funding-ma-report/" target="_blank" rel="noopener">1H and Q2 2023 Solar Funding and M&amp;A Report</a>, the total global corporate funding in the solar sector during the first half of 2023, including venture capital investments, public market funding, and debt financing, reached $18.5 billion, a 54% year-over-year increase from $12 billion.</p>


Reliance, Others Invest $12 Million in Perovskite Solar Tech Firm Caelux

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