Nexwafe raises €39M Series C led by Reliance Industries
Solar is the most economic renewable energy on planet Earth. India is the second-most populous country with 1.38 billion inhabitants. On 24 June 2021, Mukesh Ambani, India’s most successful entrepreneur, Forbes top 10 (€86B) and majority owner of Reliance Industries, promised the shareholders to invest €8.6B in the next 3 years to build a new energy business powered by 4 vertically integrated giga factories for solar systems, batteries, green hydrogen electrolysers and fuel cells. On 10 October 2021, Reliance made the first move and acquired the solar manufacturer REC for €667M. Fitting well into Ambani’s ambitious solar strategy, Nexwafe today announces the first closing of their €39M Series C led by the subsidiary Reliance New Energy Solar. Aramco Ventures, Innoenergy and other co-investors participate in the round enabling Nexwafe to further develop and market its green solar wafer manufacturing technology. Next to investing a ticket of €25M, Reliance plans to license and deploy Nexwafe’s technology in its new solar giga factory. This is a strategic proof of scalability for Nexwafe’s green solar wafers.
Read moreEcosummit Zoom 2 June 2021
Founded in 2010, our mission is maximising our impact until 2030, the global deadline for carbon neutrality. Our goals are 100% electric mobility, 100% renewable energy and 100% sustainable cities. We’re zooming in again on fundraising startups and active investors at Ecosummit Zoom 2 June 2021, our 14th online event, co-hosted by Christoph Ostermann, Gerard Reid and Bart Markus. The agenda presents 11 inspiring speakers: Davor Sutija (Nexwafe) launching Series C, Sergey Ogorodnov (Voltaware) launching Series B, Duncan Grierson (Clim8) launching Series A, Cathal Hughes (BP Launchpad), Mike Popham (Stryde), Anna Björklou (Epishine), Franck Raynaud (MyBus) launching Series A, Peter van Giessel (Shell Ventures), Jochem de Graaf (Travis) launching Series A, Samuel Jansson (Utilifeed) launching Series A and Julia Padberg (SET Ventures). Please get in touch if you want to pitch at Ecosummit to accelerate your startup, fund or portfolio. Get your tickets and join us. Let’s automate sustainability in every industry and build big startups with big impact.
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