Exeger Announces Additional Investment by SoftBank Group
EXEGER PRESS RELEASE SEPTEMBER 06, 2019
[Stockholm] Exeger Operations AB (“Exeger”) today announced that SoftBank Group Corp. (“SBG”) has executed another USD 10 million investment into Exeger. The funds will be used to further strengthen Exeger’s organization 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 agreementwith 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. It is the only material to seamlessly enhance any product with endless power by harnessing all light energy and converting it to electrical energy in an environmentally friendly way. 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,” said Giovanni Fili, Founder & CEO of Exeger. “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,” said Shigeki Miwa, General Manager of SBG’s CEO Project Office.
Exeger is a Swedish company with a unique solar cell technology, that converts any form of light into electrical power. With its resilient, flexible and seamless design, the material (Powerfoyle) can be integrated into all products that benefit from being self-powered. Exeger brings endless energy to products through partnerships with leading companies on a global scale. By revolutionizing the perception of available energy, Exeger makes products both smarter and more sustainable – with the vision to improve everyday lives of a billion people.