GraphEnergyTech, a solar technology company backed by Frontier IP Group PLC (AIM:FIPP), has teamed up with Taiwan Perovskite Solar Corporation, the Industrial Technology Research Institute, and the University of Cambridge to develop more efficient and durable solar panels.
The collaboration has secured a £884,129 grant from Innovate UK to advance the use of graphene electrodes in solar cells, replacing traditional metal components.
Most solar panels today rely on silver electrodes, which conduct electricity but are costly and in limited supply.
Researchers warn that silver reserves could be depleted by 2050, making it an unsustainable long-term solution.
GraphEnergyTech’s graphene-based technology is cheaper, more stable, and environmentally friendly, offering an alternative that could extend the lifespan of solar panels.
GraphEnergyTech, in which Frontier IP holds a 23.97% stake, will receive £591,250 from the Innovate UK grant, while £292,879 will go to the University of Cambridge.
In addition, GraphEnergyTech is investing £253,393 of its own money, bringing the total UK investment to £1.1 million.
Last year, the company raised £1 million in funding from Aramco Ventures, the venture capital arm of the Saudi state oil company.