STOCKHOLM, SWEDEN – AUGUST 29, 2024 – Exeger, the Swedish deep-tech company behind the revolutionary Powerfoyle™ solar cell technology, announces it has received the second payout of €15 million from its European Investment Bank (EIB) loan. This follows the successful finalization of the approximately €20 million equity financing, which was a prerequisite for the release of the second tranche of the loan. This achievement marks a significant milestone in Exeger’s ambitious expansion plan.
The €35 million loan from the EIB is a key component of Exeger’s strategy to scale production capacity at its Stockholm II facility. With this latest funding secured, Exeger is poised to enter the next phase of its industrialization: a comprehensive push towards full automation in production. This phase will focus on enhancing efficiency and streamlining production, with the ultimate goal of achieving full automation as Stockholm II reaches its full scale.
This funding and strategic focus on automation will enable Exeger to meet the growing global demand for its groundbreaking Powerfoyle solar technology, ensuring consistent quality and supply as the company continues to revolutionize the indoor solar industry.
Read the press release related to the first loan payment from the EIB here: https://www.exeger.com/press-release/exeger-receives-first-payout-of-the-e35-million-eib-loan-after-securing-e20-million-equity-financing/
Exeger is a Swedish company with a unique solar cell technology that converts all forms of light into electrical energy. This material, Powerfoyle, is the world’s only fully customisable solar cell. With its superior design properties, it can be integrated seamlessly into any electronic device.
Powerfoyle enhances every product it is integrated into with extended or even unlimited battery life, putting the power of cutting-edge solar cell technology directly in the hands of people. Exeger is leading the way to energy independence through more sustainable and user-friendly products — with the vision to touch the lives of a billion people by 2030.
