The Global View

Intel’s €24m backing for Sulfurcell solar

solar-panel21.jpgFollowing his piece on the UK’s greenest MPs,  D. Lorenz’s latest posting is on Intel’s €24m investment in Sulfurcell.

Last week Intel Capital, the strategic investment arm of chip giant Intel, announced a € 24 million investment in Sulfurcell, a German manufacturer of electricity-generating solar panels.

Intel capital is a significant global player investing $500m in various businesses annually.

The fund is looking to the Cleantech sector to produce innovative, profitable ideas says Heiko von Dewitz, investment director of Intel Capital’s cleantech sector in Europe and Israel.

“The company is working with interesting materials and they’re getting a very high conversion rate from sunlight to electricity,” he said.

“They’re well positioned to capture the innovation potential and have a demonstratable production process that can produce a consistently good product at a low cost.”

The company is well placed to capture the current market – Germany accounts for half the European market of solar modules.

They’ll also be looking to Italy and Spain according to von Dewitz.

“The market is expected to grow there as the respective governments introduce similar incentives for solar power to those in Germany,” he said.

Intel Capital is going to invest much more heavily in Cleantech over the coming years, according to managing director Ash Patel.

“Cleantech is a very dynamic space, we’re going to be come a lot more involved in investing in high-end innovative businesses,” he said.

“We’re looking for businesses that will effect a significant contribution towards reducing emissions.”