Tuesday 6th of July 2010
SolarPrint Limited (“SP”), a leading, Irish based, developer and manufacturer of Dye
Sensitised Solar Cell (“DSSC”) technology, has announced a significant investment of €1.6 million to ramp up production and accelerate the company’s growth.
SolarPrint Limited will use the proceeds of the investment to establish production of
its DSSC products at their manufacturing facility in Blackpitts, Dublin 8 and will be
adding to the team by hiring 20-30 exceptional candidates over the coming 2 years.
The investment which was signed in recent days includes funding from Custom
House Capital (“CHC”), Enterprise Ireland (“EI”) and a number of private investor
partners.
“Enterprise Ireland and Custom House Capital are ideal investment partners for
SolarPrint” explains Dr. Mazhar Bari, CEO.
“They bring extensive financial resources, broad industry knowledge and a successful investment track record. We look forward to working with them and benefiting from their advice, counsel and contacts. It is clearly a very difficult funding environment and we were delighted to have such overwhelming support from both our private sector investors as well as the Irish government to bring our very exciting
technology to market.”
Commenting on the announcement Tom Hayes, Head of the High Potential Start Up,
Enterprise Ireland said:
“We welcome the opportunity to support SolarPrint who represent the type of
innovative export-oriented company that Enterprise Ireland is keen to be involved
with. They have already made significant progress, and Enterprise Ireland is working
with them to develop their international sales.”
Dr. Bari added further that “DSSC technology has many potential applications,
notably in the consumer electronics sector and the building integrated photovoltaic
sector. We have already had numerous discussions with a number of multinational
household names who are keen to adopt the technology and we look forward to
bringing the products to market”.
Also commenting on the announcement Harry Cassidy, Managing Director of Custom
House Capital Ltd added: “With this investment opportunity that is also providing employment opportunities in Ireland, our clients are gaining exposure to an exciting indigenous Irish company with the potential for strong investment returns and, while not without risk, we will look to expand on similar investments for our clients”.
About SolarPrint Limited:
SolarPrint is developing DSSC technology, a novel 3rd Generation printable flexible
solar cell technology, which uses abundant, cheap raw materials and employs a lowcost, fast and easy manufacturing process.
SolarPrint was founded in 2008 by Dr. Mazhar Bari, Roy Horgan and André Fernon to
bring DSSC technology to market. Padraic White, former CEO of the IDA, is
Chairman of SolarPrint’s advisory board.