Exeger to get $10M more in investment from Softbank.
Exeger, a Stockholm, Sweden-based company developing dye sensitized solar cells for integration into devices such as headphones and tablet computers, announced another $10 million investment round in the company.
The money was provided by existing investor, SoftBank Group Corp., and this additional investment is based on the execution of an option right which was included in the agreement in respect of SBG’s original investment in March 2019.
The funds will be used to further strengthen Exeger’s organization in preparation for delivery of the first products, which are scheduled for shipment in 2020.
Exeger also has entered into a strategic partnership agreement with SB Energy Corp., the Japanese subsidiary of SBG, to accelerate the global rollout of the Exeger technology.
Exeger, founded in 2009 by CEO Giovanni Fili, is a deep tech company manufacturing a carbon positive material that converts light energy to electrical energy. It enhances any product in both natural and artificial light with an integrated power source. The company is producing PV devices in a factory in Stockholm. In June last year, Exeger opened an office in Shanghai as part of the Swedish Energy Agency’s Shanghai Cleantech Hub.