Fortistar and Energy Innovation Capital Invest in Pellucere Technologies
Manufacturer of Industry-Leading Anti-Reflective and Anti-Soiling Coatings
Pellucere Technologies, Inc., a U.S.-based sustainable technology focused company that manufactures anti-reflective and anti-soiling coatings for solar, automotive, and consumer electronics, announced that Fortistar, a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges, is co-investing alongside existing investor Energy Innovation Capital (“EIC”) to fund the rapid growth of the company.
Pellucere’s flagship product is the MoreSun® Anti-Reflective (AR) / Anti-Soiling (AS) coating for the solar market. MoreSun delivers industry-leading AR performance as well as a proprietary dry anti-soiling property that reduces soiling rates up to 95%.
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MoreSun’s unique low-temperature curing technology allows it to be applied as a retrofit coating in the field for the approximately 70 GW of solar modules that do not have factory AR coatings. Extensive customer field data demonstrates that the product’s AR improvements will typically improve solar energy yield by 4% to 5% while the anti-soiling properties can improve energy yield up to an additional 4% to 8% in high dust environments.
“We are exceptionally grateful to have both Fortistar and Energy Innovation Capital, two leading sustainable energy-focused growth capital firms, as investors in Pellucere,” said CEO Robert Lukefahr. “In 2021, we expect to complete installation of the MoreSun coating on more than 500MW of retrofit solar projects in the U.S., Canada, Europe, and Africa.”
In addition to the retrofit solar product, Pellucere also sells the MoreSun integrated Anti-Reflective/Anti-Soiling product to solar module and solar glass manufacturers. This single-step coating process allows solar original equipment manufacturers (OEMs) to provide industry-leading AR performance as well as best-in-class anti-soiling performance at a far lower cost.
“We are excited to fund a high-growth company that is deploying proven solutions to key sustainability challenges by significantly improving the performance of existing and future solar installations,” said Nadeem Nisar, Managing Director of Fortistar.
“Pellucere has exceeded our technical performance expectations and we are glad to have Fortistar’s strong operations-focused team recognize and join in the execution of the company’s growth plans,” said George Coyle, Managing Partner at EIC.
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Later this year, Pellucere expects to begin commercial rollout of its new, award-winning Talus AS™ anti-soiling product. The Talus Dirt Rejection Technology adds an anti-soiling layer on top of factory AR coatings to reduce cleaning costs and energy losses due to dust and dirt accumulation. Pellucere was recently awarded an American Made Solar prize from the U.S. Department of Energy and was a winner in the Iberdrola Startup Challenge for its solar anti-soiling products. Iberdrola is a global energy leader in renewable power generation with nearly 40GW in operation.
Pellucere was spun out of Oregon State University to commercialize the nano-technology developed by Dr. Chih-hung Chang and Dr. Seung-Yeol Han. The company has also developed and manufactures a patented robotic applicator system for the MoreSun coatings to enable high-precision, high-efficiency field application of the product.
In addition to MoreSun and Talus AS, the company has several other products currently in development in partnership with companies in the automotive and electronics industries. The company is based in Houston, Texas and Corvallis, Oregon.