Cambridge Photon Technology (CPT), a deep tech startup developing photon-multiplier technology to make solar panels more efficient, has landed a £1.56m investment.
A spinout from the University of Cambridge, CPT is working to enable silicon solar panels to generate more power by converting wasted sunlight into usable light.
It does this by converting high-energy photons which are normally lost as heat into infared-photons that can be absorbed by silicon panels.
The firm described its technology as a “drop-in solution” that can fit into standard solar modules without the need for redesigns.
The pre-Series A investment is comprised of a £926,000 equity investment and a £630,000 grant from Innovate UK.
“This investment demonstrates strong private-sector confidence in CPT’s technology and vision,” said Dr Claudio Marinelli, chief executive of CPT.
“Attracting backing from leading investors across the UK, India and Asia underlines the global relevance of our approach and its potential to transform solar efficiency at scale.
“Together, this funding positions CPT to accelerate product readiness and bring a breakthrough British innovation to the global clean-energy market.”
The equity investment included backing from Cambridge Enterprise Ventures, Spectrum Impact, Tybourne Capital, Providence Investment Company and SourceSquared.
“Cambridge Photon Technology exemplifies the kind of transformative innovation needed to accelerate the global transition to sustainable energy and address climate challenges,” said Chris Gibbs, investment director at Cambridge Enterprise Ventures.
“We are proud to have supported the company from the beginning and now in this next exciting phase of its journey.”
