Hamburg-based energy startup, 1Komma5°, has unveiled plans to construct a cutting-edge 5GW tunnel oxide passivated contact (TOPCon) module assembly plant in Germany. With an ambitious timeline to commence commercial operations in 2024, the facility will initially boast an annual nameplate capacity of 1GW, with further expansion targets aiming to reach 5GW by 2030, according to Jannik Schall, co-founder of 1Komma5°.
Founded just last year in 2021, the startup has wasted no time in making significant strides within the renewable energy sector. It successfully launched its own line of solar modules in late 2022, leveraging German-made polysilicon to bolster its offerings.
This recent announcement comes on the heels of a notable investment from venture capital firm 2150, which is set to inject an undisclosed double-digit million euro amount into the startup. This financial backing will be dedicated to the continued development and expansion of the software application known as “Heartbeat.” In addition, 1Komma5° plans to establish a development site and test laboratory in Berlin in the coming year, further solidifying its commitment to innovation and technological advancement.
This latest funding round follows a Series B financing effort that saw the startup secure €250 million (approximately US$263 million) in equity, with an additional €215 million allocated in the form of re-investment options.
As the plans for the production plant take shape, its location is expected to be finalized in either Brandenburg or Saxony, offering a strategic position for optimizing operations.
Currently, 1Komma5° has a presence in multiple European markets, including Germany, Sweden, Denmark, Spain, Finland, Italy, and even Australia. The company's rapid growth and commitment to expanding renewable energy solutions underscore its pivotal role in advancing the transition to sustainable and clean energy sources.
