Tandem PV on Inaugural List of 50 Climate Tech Companies Likely to Significantly Drive Carbon Reductions by 2050
September 17 2024 - 1:08PM
Business Wire
Illustrious 50 by 2050 list is part of a new
report published by Congruent Ventures and Silicon Valley
Bank
Tandem PV, a pioneering force in American perovskite solar
technology, has been included in an illustrious list of 50 private
climate tech companies with strong potential to significantly drive
carbon reduction over the next 25 years. The inaugural 50 by 2050
list, unveiled in a new report published by Congruent Ventures and
Silicon Valley Bank, of which Tandem PV is a client, includes other
such innovators as Commonwealth Fusion Systems, Impossible Foods,
Redwood Materials, Sila and TerraPower.
"Tandem PV is honored to be recognized and selected for the 50
by 2025 list as a leading carbon-reduction player by Congruent
Ventures and Silicon Valley Bank," said Tandem PV CEO Scott
Wharton. "Our disruptive perovskite technology has the potential to
produce solar panels that are up to 40% more powerful than average
silicon modules. Our mission from the start has been to meet the
urgent imperative for a swift global transition to net zero."
The report's authors surveyed over 50 experts in academia,
finance and private-sector business to assemble the 50 by 2025
list, analyzing thousands of North American startup companies
categorized into manufacturing, energy, building and mobility, food
and agriculture sectors.
Tandem PV, founded in the Silicon Valley in 2016, has raised $33
million in venture capital and government funds to date. Nearing
commercialization of its advanced perovskite-tandem solar panels,
Tandem PV plans to launch its first factory by 2026. It has
consistently received feedback from industry leaders that its
technology already offers superior efficiency, affordability and
durability compared to competitors.
"While climate change is daunting," the report's authors note,
"we are encouraged by the entrepreneurial energy that is rising to
meet the challenge. Climate companies are attracting tremendous
talent and are developing breakthrough solutions backed by
significant funding."
About Tandem PV:
Tandem PV is driving the transition to a net-zero economy by
developing state-of-the-art perovskite-based solar panels. The
company is committed to the production of highly efficient and
durable solar technology suited for broad-scale deployment. Its
co-founder and CTO, Colin Bailie, developed the first
perovskite-silicon tandem solar cell at Stanford University and
launched the company through Cyclotron Road, the U.S. Dept. of
Energy startup accelerator supporting innovations with potential
for global commercial impact. Tandem PV has raised a total of $33
million in venture capital and government funds.
About Silicon Valley Bank:
Silicon Valley Bank (SVB), a division of First Citizens Bank, is
the bank of innovative companies and investors. With 40 years of
dedication to this sector, SVB is more experienced serving
investors and innovation clients than any other financial services
provider. Our entire business, from our solutions and technology to
our credit policy and beyond, was purpose-built for high-growth
companies and investors and delivered at the speed they
require.
About Congruent Ventures:
Congruent Ventures is a venture capital firm that seeks to
invest in mobility and urbanization, energy transition, food and
agriculture, and sustainable production and consumption sectors. We
look for technology companies that will positively impact our
energy and resource consumption. If we see an opportunity to
partner with a like-minded team focused on scale across hardware,
software, or services, we’re interested.
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