In November 2016, LGC invested £2.5m in Oxford Photovoltaics Limited (Oxford PV), a spin-out from the University of Oxford, to commercialise perovskite, a low-cost, highly efficient solar cell absorber material that can vastly improve a solar panel’s ability to convert sunlight into electricity. The business was founded in 2010 and its co-founder was amongst the first in the world to recognise the potential of perovskite. Oxford PV has exclusively licensed its rapidly growing portfolio of fundamental intellectual property and is working towards the commercialisation of perovskite technology which our investment will help to finance.

This investment demonstrates our strategy to back innovative technologies which respond to a rapidly changing global energy market, further bolstering our clean energy infrastructure platform.

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