Cambridge Photon Technology, a spin-out from the University of Cambridge, has secured £1.56 million in fresh funding to push the boundaries of solar efficiency.
The round includes £926,000 in private equity and a £630,000 grant from Innovate UK’s Clean Energy and Climate Technologies programme, with participation from Cambridge Enterprise Ventures, Spectrum Impact, Tybourne Capital, Providence Investment Company, and SourceSquared. The funding will support the company’s mission to make solar panels up to 15% more efficient without changing how they are made.
Solar power is now one of the most important pillars of the clean energy transition, yet even the best silicon panels can only convert a bit more than a quarter of sunlight into electricity.
Much of the remaining energy is lost as heat, an inefficiency that limits solar’s full potential. Cambridge Photon Technology aims to overcome this by introducing its patented Photon Multiplier, a dispersible chemical additive that enhances light conversion within standard solar panels.
The Photon Multiplier works by transforming wasted high-energy photons, light particles that silicon cannot typically capture, into usable ones. This small but powerful optical trick allows manufacturers to boost energy output by up to 15% without redesigning or retooling their existing production lines. The result is a cost-effective, drop-in upgrade that could accelerate the deployment of more productive solar panels worldwide.
Founded by physicist and entrepreneur Dr. Claudio Marinelli, the company emerged from years of research focused on solving solar’s toughest efficiency problem. Marinelli and his team have designed the technology to integrate seamlessly into current manufacturing methods, which gives it a practical edge over other emerging materials in the sector.
While other innovators like Oxford PV, Kubos Semiconductors, and UbiQDs are working on next-generation solar materials, Cambridge Photon Technology’s approach is distinguished by its readiness for large-scale use and ease of adoption by existing manufacturers.
The startup has already completed early trials with industry partners, demonstrating strong results in real-world testing environments. These collaborations have provided the technical validation and momentum needed to scale toward commercial deployment.
With the new funding, the company plans to expand its R&D operations in Cambridge, strengthen partnerships with solar manufacturers, and prepare for pilot demonstrations leading up to a planned Series A raise.
Cambridge Photon Technology expects to bring its first commercial product to market by 2028.
If successful, its technology could help the solar industry surpass long-standing efficiency limits and produce significantly more clean energy from the same panels. Chris Gibbs, Investment Director at Cambridge Enterprise Ventures, described the company as an example of transformative innovation that can accelerate the global transition to sustainable energy and meaningfully address climate challenges.
