"Zhui Guang Technology" Secures Nearly 100 Million Yuan in Series A Financing, and New Production Capacity Is About to Commence | 36Kr Exclusive

Written by Zhang Zhuoqian

Edited by Yuan Silai

36Kr has learned that Guangzhou Zhui Guang Technology Co., Ltd. (hereinafter referred to as "Zhui Guang Technology") recently announced the completion of nearly 100 million yuan in Series A financing. The investors in this round are the Industrial Fund of State Power Investment Corporation, Yida Capital, Suikai Investment, Guangzhou Development District Fund Group, and Beihang Investment. The financing funds are mainly used for the mass production line of 650*550 m㎡ organic photovoltaic modules to be started and constructed this year.

"Zhui Guang Technology" was established in 2020, focusing on the research and development and commercialization of organic semiconductor materials and devices, providing customers with customized organic photovoltaic energy supply solutions. The organic photovoltaic products of "Zhui Guang Technology" are mainly applied in the fields of the Internet of Things, consumer electronics, smart home, transportation, vehicle-mounted, building photovoltaic, and wind-solar integration.

In order to achieve the "dual carbon" goal and build a clean, low-carbon, safe and efficient energy system, new energy technologies are occupying an important position. The traditional crystalline silicon photovoltaic industry already has a mature business model and market. At the beginning of its technical positioning, "Zhui Guang Technology" has been targeting the incremental market. Yang Xi, the founder of "Zhui Guang Technology", introduced, "Our new photovoltaic technology does not need to compete with the traditional photovoltaic in the market. Outside the existing market, there are many areas where clean energy supply has not been applied."

"Zhui Guang Technology" Organic Photovoltaic Module

"Zhui Guang Technology" focuses on the research and development of organic photovoltaic (OPV) in the third-generation new photovoltaic technology. Organic photovoltaic technology has advantages in flexibility, light transmittance, low-light performance, environmental protection, and designability.

In the early stage, "Zhui Guang Technology" focused its strategic focus on indoor photovoltaic scenarios, and will further expand the deep integration of photovoltaic with wind power, architecture, and transportation in the future. The unique low-light power generation advantage of OPV makes it very suitable for application needs in indoor environments. "Taking large supermarkets as an example, the electronic price tags in this scenario are a typical case of indoor photovoltaic application scenarios. The light intensity around the shelves is not only sufficient to support the OPV module to continuously supply power to the electronic price tags, but also can meet the demand for a higher refresh frequency. The advantage of low-light power generation has opened up a new indoor photovoltaic application market", Yang Xi introduced, "In addition, the thin, flexible and adjustable transparency of OPV in form can be better combined with products for collaborative design.

In addition to indoor photovoltaic, "Zhui Guang Technology" also targets vehicle-mounted and building photovoltaic. Using the unique differentiated advantages of organic photovoltaic, "Zhui Guang Technology" is continuously opening up new scenarios and introducing clean energy into more products that rely on traditional energy supply methods.

"The common factors that restrict the commercialization of new photovoltaic technologies are photoelectric conversion efficiency and stability. Cutting-edge technologies are competing with each other, striving to break through technical bottlenecks and achieve commercialization", introduced Yang Xi, the founder of "Zhui Guang Technology".

"Zhui Guang Technology" completed the mass production line of OPV materials in 2022, and this year it started to construct the 650*550 m㎡ OPV module mass production line. Yang Xi told 36Kr, "The efficiency of our independently developed OPV device certified laboratory reaches 19.92%, maintaining the world record for two consecutive years. Currently, the OPV module has passed the verification of core customers. After the completion of capacity construction, the module will be mass-produced and delivered, which means that it will be the first in the industry to achieve the commercialization of organic photovoltaic."

"Zhui Guang Technology" Aerial View of 650*550 m㎡ OPV Module Mass Production Line

"Zhui Guang Technology" has built an independently controllable intelligent production line. It plans to put into production the module products applied in the indoor photovoltaic field first next year. The first batch of orders comes from the world's leading Internet of Things product manufacturers, and "Zhui Guang Technology" will mass-produce and deliver OPV energy supply module products.

In terms of business model , "Zhui Guang Technology" is divided into two product models: customized and standardized. Currently, customer needs are more inclined to a product-oriented research and development model, which requires customized solutions from design, research and development, to production and delivery. "Zhui Guang Technology" has the full-chain production capacity from material research and development, device production to solution customization, and the entire process is independently controllable. Customized designs are carried out around the actual needs of customers from multiple dimensions such as performance and form. In the future, standardized module products will also be developed to provide customers with a more efficient and flexible cooperation model.

The previous investors of "Zhui Guang Technology" include Sequoia China Seed Fund, Guoke BOE, GLP Hidden Hill Capital, and Jianzhi Holdings. "Zhui Guang Technology" has carried out in-depth cooperation with BOE and GLP in the indoor photovoltaic field, and the next step will be to carry out in-depth cooperation with the shareholders of this round of industries in the outdoor photovoltaic field to open up the outdoor application market.