Exeger, the Sweden-based solar cell manufacturer that produces patented solar cell technology Powerfoyle, acquired Intivation BV, a boost converter designer specialized in low power applications. The acquisition will secure a key component ensuring optimal system output and strengthening the ecosystem around Powerfoyle, allowing it to provide more power to devices.
Intivation BV provides DC-DC boost converters for low-power applications. The boost converter matches the solar cell voltage to the battery’s charging voltage.
Through this acquisition, Intivation BV becomes a wholly-owned subsidiary of Exeger Operations. Together with Exeger, Intivation has optimized the boost to be perfectly paired with Powerfoyle with a custom tracking algorithm. Exeger can now expand R&D to encompass the optimization of both Powerfoyle and the boost converter as a single system, increasing the total power to the battery. For manufacturing its chipset, Intivation partners with semiconductor manufacturer EM Microelectronic, a Swatch Group company.
Throughout 2021, Exeger teamed up with various key partners to form a strong ecosystem around Powerfoyle, providing an improved experience for end-users and facilitating customer integration and adoption.
“Powerfoyle makes seamless integration of solar cells possible for the very first time. Users can have a truly wireless experience of consumer electronics with clean, endless energy without any constraints to design; it simply works. Intivation’s technology ensures the constant optimal output of Powerfoyle for the highest possible charge current, and that’s why the combination of these two technologies is so promising,” said Anne Osinga, CEO & Founder of Intivation.
“Sustainability in the twenty-first century needs to center around an ecosystem mindset. We have set out to partner with the companies that improve our core technology the most, and Exeger’s ownership of Intivation is a natural development of our longstanding relationship,” said Giovanni Fili, CEO & Founder of Exeger.
“It will ensure Exeger can offer the most suitable power solution to all our customers, to know there will be a key component which is solely optimized for Powerfoyle and always available for purchase. When the opportunity arose, we all felt this partnership was poised to help accelerate the mass adoption of Powerfoyle and touch the lives of a billion people by 2030,” added Giovanni.
In May 2021, Exeger secured $38 million in financing to build its new solar cell factory in Stockholm, Sweden. The financing round included debt financing of $12 million from Swedbank, which the Swedish Export Credit Agency partly underwrites under the guarantee of investment credits for companies with innovations. Swedish Export Credit Corporation issued a loan amounting to $8 million, partly underwritten by the European Investment Fund. The company has also secured $18 million through a directed share issue to Ilija Batljan Invest.
According to our report, in 9M 2021, there were 83 corporate solar M&A transactions compared to 42 transactions in 9M 2020.
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