Stockholm-based Exeger, a solar cell company whose technology converts all forms of light into electrical energy, announced that it has raised equity capital of approximately SEK 179.8M (approximately €16.1M) against the issuance of 1,634,845 new series B common shares.
According to Exeger, the new shares were issued at a subscription price of SEK 110 each to new and existing institutional shareholders.
The company says that the funds will be used for the continued roll-out of its ‘Powerfoyle’ technology and capacity investments to enable further production ramp-up.
Founded by Giovanni Fili, Exeger has developed a unique solar cell technology, Powerfoyle, that can convert all forms of light into electrical power.
With Powerfoyle, the Swedish company aims to address the global need for energy and some of the environmental challenges by supporting existing and new products with power from light.
The Powerfoyle is made up of a completely new type of patented nanomaterial with production entirely carried out in the company’s factory in Stockholm.
The company says the material converts any light to electrical energy in a process ‘inspired by the natural principle of photosynthesis.’
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