Oxford: Osborne Clarke advises £31m funding for technology leader

Law firm Osborne Clarke has advised Oxford PV – The Perovskite Company, the leader in the field of perovskite solar cells, on a £31 million funding round which forms the first close of its Series D funding round.

The funding will allow Oxford PV to move its perovskite-based solar cell technology into the commercial phase. The company is well positioned to bring its technology to market. In the past 12 months, Oxford PV’s perovskite-on-silicon solar cell set a certified world record efficiency.

Its technology passed key reliability tests in line with the IEC 61215 protocol and the company’s pilot line is routinely producing commercial sized tandem solar cells for validation by its development partner – a major silicon solar cell and module manufacturer.

The round includes a major new investment from Goldwind, the leading provider of integrated renewable energy solutions in China, as well as investment from existing shareholders including Equinor and Legal & General.

Osborne Clarke’s market-leading, European-wide venture capital practice works closely with start-ups, global market leaders, angel investors and institutional VC/growth capital investors on funding rounds, follow-on rounds, venture debt facilities, IPOs, trade sales and buy and build projects.

The Osborne Clarke team who advised on the transaction was led by partner Simon Jones and supported by associate Katharine Ramsay.