WattByWatt has secured $975,000 in financing from the Government of Canada
The government has shelled out the funding under CED for Quebec regions
It will enable the company to increase its manufacturing capacity to produce at a large scale
Canada-headquartered synthetic perovskite solar modules developer WattByWatt has raised $975,000 financing from the country’s federal government. It will enable the company to increase its production capacity.
WattByWatt offers its technology as a more efficient and less expensive alternative to traditional silicon-based solar cells, particularly to recharge or power batteries in electronic devices and smart card readers. The company claims its modules can function both indoors and outdoors.
It can produce customized solar panels up to 400 cm². WattByWatt’s current portfolio comprises Perovton mini-PV modules to power electronic devices in the Internet of Things (IoT) for home and industry (IIoT). These can power smoke alarms, remote controls, keypads, locks, cameras, and the like.
The company also claims up to 25% module efficiency for its silicon-perovskite tandem solar cells. Its technology uses metal halide perovskite for TandemSun solar panels, which it says is poised to disrupt the solar panel market.
The financial assistance offered under the Canada Economic Development for Quebec Regions (CED) aims to support businesses that contribute to the economic development of Quebec regions. With this funding, WattByWatt will acquire automated production equipment, and develop its capacity to produce at a large scale.
“Thanks to our innovative technology, we can generate energy both from artificial light and by drawing on the solar spectrum, as conventional photovoltaic solutions do. Integrating it in tandem with silicon also opens up new marketing perspectives that are promising,” said WattByWatt’s CEO Riad Nechache. “This funding will without a doubt accompany the large-scale deployment of our perovskite-based technology.”