- HyET Solar has received expansion funding from Teslin.
- Teslin and FFI will actively help HyET Solar develop a PV factory in the Netherlands.
HyET Solar, a Dutch producer of flexible and lightweight solar photovoltaic (PV) technology, has received expansion funding from Teslin Participaties and Fortescue Future Industries (FFI).
According to a recent announcement, Teslin and FFI will actively help HyET Solar develop a PV factory in the Netherlands with a planned annual production capacity of at least 40MW. The two investors will also assist the business in achieving future growth, with a priority option being an initial public offering (IPO) on a major stock exchange in a few years.
Since mid-2020, FFI, the green energy division of Australian iron mining firm Fortescue Metals Group Ltd, has been a shareholder in HyET Solar. The new deal will expand FFI’s minority stake in the company. HyET Solar’s technology is expected to be employed in the manufacture of green hydrogen, according to the company.