SoftBank plans to invest $10m in Swedish solar technology firm Exeger
Category: #business  By Pankaj Singh  Date: 2019-03-06
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SoftBank plans to invest $10m in Swedish solar technology firm Exeger

SB Energy Corp will be supporting the global rollout process of Exeger’s technology and products

SoftBank Group will hold the right to nominate a director for being appointed on Exeger’s board

SoftBank Group, the Japanese multinational holding company, has recently announced that it would be investing US$10 million (€8.8 million) in Exeger Operations AB, the Sweden-based solar cells maker, under a new strategic partnership.

Masayoshi Son-led SoftBank has not yet revealed the total stake in the firm it would be receiving in return but indicated that it now has the right to nominate a director for being appointed to the board of Exeger.

Exeger informed that SB Energy Corp., a subsidiary of SoftBank Group, has entered into a partnership with the company to accelerate the rollout of Exeger Solar Technology globally. SB Energy would essentially be helping with the worldwide launch of Exeger’s flexible, ultra-thin solar cell and introduce a wider range of products powered by the company into the SoftBank Group Ecosystem.

Giovanni Fili, founder and CEO of the Swedish firm, stated that Exeger would be using the fresh investments for speeding up the commercialization of its flexible solar cells globally across multiple markets. He confirmed that the Japanese renewable energy company SB Energy Corp will support the worldwide rollout process under a newly signed strategic collaboration.

According to Exeger, its solar cells work efficiently in conditions of ambient light, in natural and artificial light, having the potential to enable electronic devices which are self-powered. The company aims to transform the views regarding available energy by integrating its solar cells into mass market products. Exeger said its solar cell is the only one which can be printed in different colors and in free-form, allowing it to significantly enhance any product with limitless power.

CEO and Representative Director SB Energy Corp, Shigeki Miwa, expressed that developing this innovative technology will transform the lifestyle and behaviors of people dramatically, as it can convert any kind of light into energy to be used in any way.

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About Author

Pankaj Singh    

Pankaj Singh

With an experience as an insurance underwriter and a freelance writer under his belt, Pankaj Singh boasts of quite some expertise in the field of content creation. A qualified Post Graduate in Management, Pankaj has also completed a detailed course in Digital Marketin...

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