Fortum portfolio startup Exeger receives significant growth funding from SoftBank
FORTUM CORPORATION ONLINE NEWS 11.3.2019
Fortum’s partially owned Exeger Sweden AB, a developer of solar cell technology, has received significant growth funding from SoftBank. SoftBank is investing USD 10 million to accelerate the global commercialisation of Exeger’s technology.
The printable solar cells developed and produced by Exeger Sweden AB are used on building facades, in consumer electronics, and in other applications.
Fortum invested EUR 5 million in Exeger in 2016. The investment implemented Fortum’s strategy to be in the forefront of the solar economy.
“SoftBank’s significant investment demonstrates that the world’s largest growth company investor sees that Exeger’s technology can radically change consumer markets. The partnership with SoftBank opens the doors to global markets for Exeger,” says Fortum’s City Solutions Executive Vice President Per Langer.
With Exeger’s technology electrical devices can harvest the energy they need without charging cords. Solar cells can be printed in free-form and in different colours, so they can be seamlessly integrated on the surface of any product.
One priority of Fortum’s strategy is build options for significant new businesses. This includes investing in the most promising growth companies that have businesses compassing global megatrends like climate change, circular economy, active consumers, and digital technologies.
“By investing in growth companies, we are planting seeds for new, significant business in the future,” says Fortum Innovation and Venturing Vice President Anne Jalkala.
Anne Jalkala, Vice President, Innovation and Venturing, +358 40 1282884