Nano metric materials provider PV Nano Cell (PVN) has raised $3.5 million in a funding round led by the Infinity IP Bank. Other participating in the funding round included the Israel Electric Corporation's Karat Program, Slobel, and Terra Venture Partners.
The company is currently in advanced stages of forming a joint venture in China, with a $2.5 million fund invested by the Chinese partner.
PVN develops and manufactures innovative nano metric materials that enable non-contact printing of conductive patterns in solar cells and for printed electronics. The company's says its technology achieves significant cost reduction in the manufacturing process of silicon cells through inkjet printing of inks based on nano metric crystal materials.
"The company is stimulating great interest from potential investors and customers, mainly because the inks that we've developed allow for significantly reduced costs in the printing of conductive patterns," said Dr. Fernando de la Vega, CEO of PVN. "So far, we have focused on the photovoltaic market, we intend to expand by applying our technologies to additional applications, such as printing of various flexible electronic devices."
PVN was founded in 2010 by de la Vega, a PhD in applied chemistry and expert on nano-metric materials. To date, PVN has raised an approximate total of $5.5 million from investors, including the Chief Scientist at the Israeli Ministry of Economy and the Ministry of Energy and Water resources.