© Exeger Electronics Production | September 06, 2019
Swedish Exeger receives additional investment from SoftBank
Swedish solar technology company, Exeger Operations AB, announces that SoftBank Group has executed another USD 10 million investment into Exeger.
The funds will be used to further strengthen Exeger’s organisation in preparation for delivery of the first products, which are scheduled for shipment in 2020. This additional investment is based on the execution of an option right which was included in the agreement in respect of SBG’s original investment last March. Exeger also has entered into a strategic partnership agreement with SB Energy Corp., the Japanese subsidiary of SBG, to accelerate the global rollout of the Exeger technology last March. The carbon positive Exeger material converts light to electricity in ambient light conditions, both artificial and natural light. Their first target application is within the consumer electronics industry with self-powered devices. “It is an honour to have SBG increase their investment, backing Exeger further in our vision to democratize energy. We want to always be relevant for consumers and lead the world into a new age of sustainable innovation through adoption of our carbon positive material. A strong relationship with the SoftBank Group will be a key factor in successful deployment into new markets,” says Giovanni Fili, Founder & CEO of Exeger, in a press release. “The SoftBank Group is extremely happy to support the global rollout of Exeger’s ground-breaking technology. We are confident that Exeger’s carbon positive materials will dramatically transform people’s lifestyles and behaviour. We are very excited about our collaboration with Exeger, which has this incredible technology, aimed at promoting the fusion of energy and information technology to help realize a more convenient and comfortable society,” adds Shigeki Miwa, General Manager of SBG’s CEO Project Office.