An experienced Danish engineer and founder of SunSil A/S plans to start production of solar cells based on his own patented invention, and the first part of the financing is close to being in place for the DKK 600m (USD 113m) project, reports financial daily newspaper Børsen.
Inventor Erik Hansen, who was previously a key investor in electronics company Topsil, told Børsen: "We have seen an exuberant interest from investors and we will begin production in Denmark next year."
Hansen has hired financial advisory business Yole Finance to help find investors, which has brought a number of interested parties onto the stage through its offices in Paris, Lyon and New York.
"At least two or three of them will have carried out due diligence in July or August with a view to becoming a shareholder in SunSil A/S by putting in DKK 120 million," says Erik Hansen.
SunSil's solar cell concept involves total integration of the photovoltaic unit, inverter and control electronics into the module design, so that in practice there is just one output cable from the entire unit.
"We can increase the output from solar cells by 20-30 per cent, so I expect that we can gain a major market in the whole of Europe."
The number of staff at the production facility is estimated to be 60 in 2011, 150 in 2012 and 200 in 2014.