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February 23, 2021
Fortistar and Energy Innovation Capital Invest in Pellucere Technologies Manufacturer of Industry-Leading Anti-Reflective and Anti-Soiling Coatings
Houston TX (February 17, 2021) – Fortistar, a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges, announced that it is co-investing alongside existing investor Energy Innovation Capital (“EIC”) to fund the rapid growth of Pellucere Technologies, Inc., a U.S.-based sustainable technology focused company that manufactures anti-reflective and anti-soiling coatings for solar, automotive, and consumer electronics.
Pellucere’s flagship product is the MoreSun® Anti-Reflective (AR) / Anti-Soiling (AS) coating for the solar market. MoreSun delivers industry-leading AR performance as well as a proprietary dry anti-soiling property that reduces soiling rates up to 95%.
MoreSun’s unique low-temperature curing technology allows it to be applied as a retrofit coating in the field for the approximately 70 GW of solar modules that do not have factory AR coatings. Extensive customer field data demonstrates that the product’s AR improvements will typically improve solar energy yield by 4% to 5% while the anti-soiling properties can improve energy yield up to an additional 4% to 8% in high dust environments.
“We are exceptionally grateful to have both Fortistar and Energy Innovation Capital, two leading sustainable energy-focused growth capital firms, as investors in Pellucere,” said CEO Robert Lukefahr. “In 2021, we expect to complete installation of the MoreSun coating on more than 500MW of retrofit solar projects in the U.S., Canada, Europe, and Africa.”
“We are excited to fund a high-growth company that is deploying proven solutions to key sustainability challenges by significantly improving the performance of existing and future solar installations,” said Nadeem Nisar, Managing Director of Fortistar.
In addition to the retrofit solar product, Pellucere also sells the MoreSun integrated Anti-Reflective/Anti-Soiling product to solar module and solar glass manufacturers. This single-step coating process allows solar original equipment manufacturers (OEMs) to provide industry-leading AR performance as well as best-in-class anti-soiling performance at a far lower cost.
“Pellucere has exceeded our technical performance expectations and we are glad to have Fortistar’s strong operations-focused team recognize and join in the execution of the company’s growth plans,” said George Coyle, Managing Partner at EIC.
Later this year, Pellucere expects to begin commercial rollout of its new, award-winning Talus AS™ anti-soiling product. The Talus Dirt Rejection Technology™ adds an anti-soiling layer on top of factory AR coatings to reduce cleaning costs and energy losses due to dust and dirt accumulation. Pellucere was recently awarded an American Made Solar prize from the U.S. Department of Energy and was a winner in the Iberdrola Startup Challenge for its solar anti-soiling products. Iberdrola is a global energy leader in renewable power generation with nearly 40GW in operation.
Pellucere was spun out of Oregon State University to commercialize the nano-technology developed by Dr. Chih-hung Chang and Dr. Seung-Yeol Han. The company has also developed and manufactures a patented robotic applicator system for the MoreSun coatings to enable high-precision, high-efficiency field application of the product.
In addition to MoreSun and Talus AS, the company has several other products currently in development in partnership with companies in the automotive and electronics industries. The company is based in Houston, Texas and Corvallis, Oregon.
For More Information:
Robert Lukefahr, CEO
Energy Innovation Capital is the premier capital provider for innovators serving the energy industry. EIC provides early and growth-stage funding for visionary entrepreneurs tackling global energy challenges with transformative, market-leading solutions. EIC’s team leverages our industry expertise, networks and collaborative approach to help talented entrepreneurs push the boundaries of what’s possible and build great companies. To learn more, visit www.energyinnovationcapital.com.
Founded in 1993, Fortistar is a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges. Fortistar utilizes its capital, flexibility and operating expertise to grow high-performing assets, first in independent power projects and now into other areas that support decarbonization. As a team, Fortistar has led financings raising over $3.5 billion in capital for companies and projects in the energy, transportation and industrial sectors. For more information about Fortistar or its portfolio companies, please visit: www.fortistar.com and follow the company on LinkedIn.
Media Contact: Caleigh Bourgeois (513) 675-7466 firstname.lastname@example.org