Silver is the most commonly used material for electrodes today, but the rising demand for solar power means global reserves could be exhausted by 2050, according to research from the University of New South Wales. It is expensive and mining can cause devastating environmental harm. 

GraphEnergyTech has developed and patented a novel process to integrate graphene electrodes into solar cells replacing silver and other precious metals while retaining or improving power conversion efficiencies and reliability. Besides offering cost and performance benefits, this approach addresses the increasing demand for silver in the solar industry and the need for more sustainable and efficient materials in photovoltaic technology.  The company is now working with partners to scale the technology and bring the solution to all types of solar cells and beyond. 

The technology’s main application is for use in solar cells, where the graphene can replace silver electrodes. Other applications include batteries, super capacitors, LED lighting and displays.

The startup has raised £1 million (CHF 1.1 million) equity raise to accelerate development and scale up of its advanced high-conductivity graphene electrodes. The funding round was led by Aramco Ventures, the corporate venturing arm of Aramco, the world’s leading integrated energy and chemicals company. Existing shareholders in GraphEnergyTech include Frontier IP Group plc, who co-founded the company, to support the startup’s development. 

Thomas Baumeler, GraphEnergyTech’s CEO, said: “We are very happy with the results of the fundraising and the investment from Aramco Ventures. The funds allow us to take development of our advanced graphene electrodes to the next level. They have the potential to play a part in the development of the next generation of solar cells.” 

GraphEnergyTech was co-founded by Professor Michael Grätzel from the EPFL, inventor of the dye-sensitised solar cell, Professor Andrea Ferrari, founder and director of the University of Cambridge Graphene Centre, and Frontier IP.  Professor Grätzel is ranked among the world’s most cited scientists across all fields and is behind more than 120 patents resulting from his research. 

Frontier IP Chief Executive Neil Crabb said: “The investment from Aramco Ventures, a world leader in energy investments, represents a strong endorsement of GraphEnergyTech’s technology and the quality of its electrodes. We are excited by the Company’s potential.”  

(www.startupticker.ch)