The fledging Danish technology company RAcell has secured a multimillion investment sum and is ready to build Denmark's first fully automated solar cell factory in Copenhagen, reports financial daily newspaper Børsen. According to the article, RAcell has a new patented technology which can simultaneously make the solar cells larger, cheaper and more effective in relation to promising new markets.
The founder and owner of RAcell, Yakov Safir, comments to Børsen: "We are starting up with smaller-scale production in 2010, and in 2011 we will open a completely new large scale factory covering 5,000 to 10,000 square metres." Safir declines to disclose the name of the investors who have put the millions of kroner into the enterprise, but does reveal that it has been no problem finding them and that the project will be 100% Danish owned with both institutional and industrial investors.
RAcell has three 'trump cards' that it believes puts it in a good position to compete in the rapidly growing global solar cell market. Firstly, RAcell can make solar cells two to four times larger than today's 156 x 156 mm standard and thus markedly increase effectiveness. Secondly, the company can use a less pure type of silicon and so markedly decrease costs. And thirdly, the solar cells can be combined in large multifunctional modules that RAcell already produces today, including the world's most powerful module (800 watts) which is made for the Danish company VELUX.
Although Denmark has a number of significant players in the solar cell market, including Danfoss Solar Investors, Gaia Solar and Topsil, only RAcell has so far elected to produce the solar cells themselves. According to solar cell expert Peter Ahm from RA Energy, it is not too late despite global giants like Bosch and Siemens moving into solar cells with big investments.
"We have seen in foreign countries that there is still space for small players if they have the right solutions. And that is the case for RAcell," says Ahm.