CPT secures $2 million to accelerate solar breakthrough

Cambridge Photon Technology (CPT), a deep-tech spin-out from the University of Cambridge, has raised £1,556,000 (about USD 2 million) in new funding to accelerate the commercialisation of its photon-multiplier technology. 

The pre-Series A round combines £926,000 (USD 1.2 million) in equity investment with a £630,000 (approximately USD 800,000) grant from Innovate UK’s Investor Partnerships: Clean Energy and Climate Technologies programme, according to a media release.

CPT has developed a patented photon-multiplier technology that enables existing silicon solar panels to generate more power by converting wasted sunlight into usable light. The drop-in solution fits into standard solar modules without any redesign or capital-intensive manufacturing changes, offering one of the most practical routes yet to increasing global solar efficiency, the media release said.

“Attracting backing from leading investors across the UK, India and Asia underlines the global relevance of our approach and its potential to transform solar efficiency at scale,” said Dr Claudio Marinelli, CEO of Cambridge Photon Technology. “The Innovate UK programme provides a powerful layer of support, helping us bridge early-stage development and commercial readiness.”  

With this funding, CPT will expand its R&D operation in Cambridge, accelerate material testing with global industry partners, and prepare for a larger Series A raise ahead of pilot deployment. The company aims to bring its first product to market by 2028.

“Cambridge Photon Technology exemplifies the kind of transformative innovation needed to accelerate the global transition to sustainable energy and address climate challenges,” Chris Gibbs, Investment Director at Cambridge Enterprise Ventures. “We are proud to have supported the company from the beginning and now in this next exciting phase of its journey.”