We have a production capacity of around 15,000 modules per week, which enables us to supply pre-production runs. Our aim is to reach 10 million modules per year by the end of next year.”
The company, which develops photovoltaic cells using an organic ink (designed to power low-voltage connected devices), is entering the production phase. It is opening its first factory in Valence, in the Drôme department. It has successfully raised nearly €5.5 million from La Banque des Territoires (on behalf of the State, as part of the ‘Territoires d’innovation’ programme under the France 2030 plan), the Auvergne-Rhône-Alpes sovereign wealth fund and the American manufacturer Semtech.
After around ten years of development, Dracula Technologies has successfully perfected its photovoltaic technology and scaled up its production.
To date, the company has an annual production capacity of hundreds of thousands of cells and plans to exceed the one-million mark thanks to a new €5.5 million funding round completed this summer.
This funding round now enables Dracula Technologies to expand its sales team and increase its international presence, drawing on its industrial partner’s network. The aim is to accelerate the distribution of its organic photovoltaic (OPV) modules, a breakthrough solution for the energy transition. To this end, the company is preparing to invest around twelve million euros in a manufacturing facility. By doubling its workforce by the end of 2023, the company intends to replace polluting materials in electrical appliances with photovoltaic cells that do not contain rare materials.
“We have a production capacity of around 15,000 modules per week, which enables us to supply pre-production runs. Our aim is to reach 10 million modules per year by the end of next year,” says Pascal Pierron, co-founder.
To read the article: CF News article
Lead lawyers: Aymeric Dégrémont, Camille Malbezin
Parties involved in the transaction:
- Target: DRACULA TECHNOLOGIES
- Investors: BANQUE DES TERRITOIRES , Gabriel Giabicani , SIPAREX , Pierre Taillardat , SEMTECH CORPORATION , Alistair Fulton
- Advisers to the target: ARCHERS , Kamal Naffi
- Investors advisers : JOFFE & ASSOCIES , Aymeric Dégremont, Camille Malbezin (pour Banque des Territoires), BIRD & BIRD, Bertrand Lévy (pour Semtech)
- Fundraising adviser: LEUWEN (EX LEUWEN & CIE) , Alexandre Henault , Alexandra Matzneff
