Cambridge Photon Technology (CPT), a spin-out from the University of Cambridge, has raised £1.56 million to progress the development of its photon-multiplier technology, which aims to increase the efficiency of silicon solar panels.
The pre-Series A round includes £926,000 in equity funding alongside a £630,000 grant from Innovate UK’s Investor Partnerships: Clean Energy and Climate Technologies programme.
CPT’s patented technology converts high-energy photons (which are normally lost as heat) into two infrared photons that can be absorbed by silicon. This process can increase the energy output of existing solar panels by up to 15%.
The company’s solution can be integrated into standard solar modules without design changes or new manufacturing equipment, offering a practical approach to improving solar efficiency.
The new investment will allow CPT to expand its R&D activities in Cambridge, continue materials testing with industry partners, and prepare for a larger Series A funding round ahead of pilot-scale deployment. The company aims to bring its first product to market by 2028.
