EneCoat Technologies

About EneCoat Technologies

EneCoat Technologies is a spin-off company from Kyoto University, founded on January 11, 2018, that specializes in the development, manufacturing, and sale of perovskite solar cells (PSCs). The company was co-founded by CEO Naoya Kato and Professor Atsushi Wakamiya, who serves as Chief Advisor for Science & Technology. Kato has a background in investment banking and business restructuring, while Wakamiya is a renowned professor in materials chemistry at Kyoto University's Institute for Chemical Research, bringing years of research in perovskite solar cells to the company. The company was launched with the full support of the university, based on research seeds from the Wakamiya Laboratory.

EneCoat Technologies focuses on creating ultrathin, lightweight, and flexible solar cell films. These PSCs offer advantages over traditional silicon-based cells, including high power conversion efficiency even in moderate and low-light conditions, such as on cloudy days or indoors. The company employs a low-temperature coating and wet process to manufacture the films, which is cost-effective and suitable for mass production using roll-to-roll technology. This allows the cells to be applied to a variety of surfaces, including curved ones, that cannot support heavier, rigid conventional panels.

The business model involves the development, manufacture, and sale of these PSCs and related materials. EneCoat targets a broad range of applications, from wearable devices and IoT sensors to mobility solutions and building-integrated photovoltaics. The company has engaged in numerous collaborations, notably a joint development project with Toyota Motor Corporation to create high-efficiency tandem solar cells for automotive use, achieving a conversion efficiency of over 30%. The firm has successfully raised significant capital to scale its operations, including a Series C funding round of 5.5 billion yen (approximately $35 million USD) in July 2024, led by Toyota's growth fund, Woven Capital, and other major corporations. This brings their total funding to over 8 billion yen, which will be used to expand production facilities and accelerate partnerships.