Wellington Partners, RWE Innogy eCapital and Existing investors invest in Heliatek

Developing and producing organic photovoltaic solar cells.

August 12, 2011

August 2011 - GP Bullhound acted as the sole financial advisor to Heliatek on its $27m financing round. The funding was led by pan-European venture capital firm Wellington Partners. Additional investors in the round included the new investors RWE Innogy, SIB Innovations- und Beteiligungsgesellschaft mbh, eCAPITAL entrepreneurial Partners AG and GP Bullhound Sidecar together with the existing shareholders BASF Venture Capital, Robert Bosch GmbH and High-Tech Gründerfonds.

Sector

Software

Region

Germany/DACH

Heliatek is engaged in the development and production of organic photovoltaic solar cells. The company is applying the extensive research and development work of its founders by leveraging organic materials to improve the cost-efficiency characteristics of solar cells. By utilizing vacuum technology, Heliatek is developing a new proprietary material that displays unprecedented power efficiency, transport and contact properties as well as extended life-time characteristics.

Dr. Andreas Rückemann, CEO of Heliatek, commented: “GP Bullhound provided the highest quality advice to us throughout a well run fundraising process. A large part of the reason we find ourselves in the great position we do is down to their excellent work. I wouldn’t hesitate to work with them again or recommend them to a third party.”