Swift Solar Announces $27M Series A Funding Round

Swift Solar has closed its $27 million Series A financing round, co-led by Eni Next and Fontinalis Partners. 

Also joining the round are Stanford University, Good Growth Capital, BlueScopeX, HL Ventures, Toba Capital, Sid Sijbrandij, James Fickel, Adam Winkel, Fred Ehrsam, Jonathan Lin and Climate Capital.

The company says it has raised $44 million of funding in total for its perovskite tandem solar products. 

“Solar is the future of energy, not just clean energy,” says Joel Jean, co-founder and CEO of Swift Solar. 

“Our advanced perovskite solar cells can outperform anything currently available on the market. People may not realize that solar manufacturing today is concentrated in China and Southeast Asia. Swift Solar will bring advanced solar manufacturing back to the U.S. and strengthen our domestic renewable energy sector. This is an unprecedented opportunity to reshape the global solar industry. With this round, we’re excited to partner with world-class deeptech and strategic investors to take Swift to the next level.”

The company adds that it has attracted $16 million in federal and state grants from the U.S. Department of Energy, Department of Defense, National Science Foundation and the California Energy Commission.