SoftBank backs Swedish solar cell maker Exeger with USD 10m

Japanese conglomerate SoftBank Group Corp (TYO:9984) announced on Monday it will invest USD 10 million (EUR 8.8m) in Swedish solar cells maker Exeger Operations AB as part of a new partnership.

SoftBank did not disclose the size of the stake it will receive in return, but noted that it has earned the right to nominate a director for appointment to Exeger’s board.

The Swedish firm’s founder and CEO, Giovanni Fili, commented that it will use the fresh funds to speed up the commercialisation of its flexible solar cells across multiple markets. The global rollout process will be supported by Japanese renewable energy firm SB Energy Corp, a unit of SoftBank, under a newly created strategic partnership.

Exeger's solar cell works in ambient light conditions, in both artificial and natural light, and has the potential to enable self-powered electronic devices such as wireless headphones.

(USD 1 = EUR 0.88)

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