Source: Mercom India
Noak, a start-up focused on perovskite-silicon tandem solutions, has raised €5 million ($5.57 million) in seed funding to scale and industrialize its technology.
The Helios Foundation, Nuhma, and V2HFin provided the funding. Noak plans to use the proceeds to accelerate technology development using existing infrastructure at EnergyVille in Genk, Belgium, and prepare for scaling through gigawatt-scale manufacturing partnerships.
Noak is a spin-off of the research and innovation organization imec and Hasselt University (UHasselt). Its technology uses a perovskite layer stack developed through proprietary chemical compositions and scalable deposition techniques. It builds on more than a decade of research conducted within the Institute for Materials Research of UHasselt, imec, and within the framework of EnergyVille.
The company is also working to improve the long-term stability of perovskite silicon tandem cells under outdoor conditions. Imec and UHasselt have accumulated five years of outdoor operating data from more than 10 test sites across Asia, Europe, and North America. The tests exposed the technology to conditions including intense sunlight, heavy rain, extreme heat, and sub-zero temperatures.
Its tandem architecture also incorporates a proprietary three-dimensional woven back-contact foil that places electrical connections at the rear of the cell. According to Noak, the design eliminates the need for front-side metallization and reduces shading losses.
The tandem cells can also be divided into smaller sub-cells connected in series and parallel. The company said the architecture can reduce the amount of metal usage. Noak said its cell architecture incorporates design for disassembly and debonding on demand. It is also working with suppliers to use certified recycled metals in its commercial products.
The funding comes as Noak prepares to move its perovskite silicon tandem technology from research and development toward larger-scale manufacturing.
Global VC funding for the solar sector in the first nine months of 2026 came to $2 billion in 60 deals, a 31% decrease YoY compared to $2.9 billion raised in 55 deals in 9M 2025, according to Mercom’s 9M and Q3 2026 Solar Funding and M&A report. A total of 192 VC investors have participated in solar funding in 9M 2026.
In 2026, Sofab Inks, a materials company focused on perovskite solar technology, raised $6 million in a seed funding round, led by strategic investor Cloudberry Ventures. The company develops novel, nanostructured materials for solar applications.
