Japan’s SoftBank Group Corp (SBG) has entered into an agreement to invest $10 million in Exeger Operations AB, Stockholm-based manufacturer of solar cells, according to an announcement.
SB Energy Corp, a Japanese subsidiary of SBG, and Exeger have entered into a strategic partnership agreement to accelerate the global rollout of the Exeger technology. “We will use this initial SBG investment to accelerate commercialization across multiple markets,” said Giovanni Fili, founder & CEO of Exeger.
Exeger produces solar cells that are meant to work efficiently in both artificial and natural light, with the potential to enable self-powered devices. The solar cells are used to integrate into mass market products like electronic devices, for a smarter use of energy, replacing the need to connect to an outlet for charging.
“The development of this innovative technology, which can convert any light into energy that can be used in any way, will dramatically transform people’s lifestyles and behaviours,” said Shigeki Miwa, general manager of CEO Project Office and representative director & CEO of SB Energy Corp.
The business of Exeger falls into one of the core business lines of SB Energy of generating power using natural energy. Since the establishment of SB Energy Corp in 2011, the firm has been engaged in solar powered energy projects such as establishing solar parks as well as expanding through acquisitions.
Source: dealstreetasia
