Amcor, a global leader in developing and producing responsible packaging solutions, announced it has signed a Memorandum of Understanding (MOU) with U.K.-based technology pioneers, Power Roll Limited. Amcor and Power Roll’s collaboration aims to revolutionize solar-powered energy by developing a lightweight solar photovoltaic film that can deliver a low-cost alternative to silicon solar panels.
Power Roll’s film material provides a lightweight and flexible solution that can be used on a variety of applications from fragile rooftops, facades, off-grid local generation and within the transport sector. Importantly, Power Roll’s technology is not reliant on rare earth minerals and can be manufactured using roll-to-roll processes.
Amcor is already active in the solar photovoltaic market, utilizing its advanced barrier technologies and roll-to-roll manufacturing processes. Through this collaboration, Amcor aims to strengthen its presence in this rapidly growing sector, further exploring opportunities to produce and market components for photovoltaic film solutions.
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Frank Lehmann, vice president of Corporate Venturing and Open Innovation at Amcor, said: “The innovative solar film technology developed by Power Roll has the potential to revolutionize the solar energy industry, providing ultra-low-cost green electricity on a global scale. Through its partnership with Amcor, we are confident that Power Roll will continue to contribute significantly to the global transition towards net zero.”
Neil Spann, chief executive of Power Roll, said, “We are delighted by the support we have received from Amcor, which will allow us to accelerate our growth and expand our impact. With one in three commercial rooftops unable to handle the weight of traditional solar panels, equivalent to 12 billion m2 globally, our mission is to lead a global rooftop solar revolution, starting here in County Durham, U.K. The need for low-cost clean energy has never been greater and Power Roll offers a solution by leveraging these underutilized rooftops where conventional heavy and rigid silicon panels cannot be deployed as well as many other applications.”
Amcor and Power Roll will hold further discussions on final terms and arrangements for Power Roll’s ongoing funding round, which will be subject to respective internal approvals.
Amcor is engaged in multiple start-up investment and partnership opportunities, supporting their journeys through the sharing of expertise from Amcor’s own research and development teams, and exploring the potential for joint undertakings. These innovative collaborations include strategic investments into ePac Flexible Packaging, PragmatIC Semiconductors, Pulpac’s fiber technology and Licella’s recycled content, as well as seed-funding for start-ups – Nfinite Nanotechnology, Bloom Biorenewables , circolution and Greyparrot – as part of the Amcor Lift-Off initiative, through which early-stage start-up companies can secure investment toward the development of innovative and sustainable technologies.
SOURCE: PRNewswire