As the world races towards its ambitious goal to reach net zero by 2050, investment into Clean tech has accelerated, offering a diverse range of solutions designed to reduce the negative impacts of energy generation and industry on our environment. The question is, which technologies will capture the biggest return, environmentally and economically?
Renewable energy technologies are key to reducing emissions
According to the International Energy Agency (IEA), the electricity sector is the single largest source of CO2 emissions. It cites renewable energy technologies like solar and wind as the key to reducing emissions, creating a pathway to net zero where almost ‘90% of global generation in 2050 comes from renewable sources’. Efforts to increase renewable energy generation have so far been successful, with renewables accounting for 92.5% of all new energy capacity in 2024. In the same year, solar PV experienced the fastest growth amongst all other power generation technologies and provided the lion’s share of new renewable energy.
Despite this progress there are still several challenges to overcome, if we’re to reach our renewable generation goals by 2050. It requires a rapid scaling up of solar PV deployment this decade to reach the Global Solar Council’s target of 8TW by 2030 – roughly 1TW of new installations per year.
Combine that with solar’s most pressing constraint – efficiency is rapidly approaching its commercial performance ceiling of 28% – and the mounting pressure to further reduce the cost of solar energy (Levelised Cost of Energy/Electricity or LCOE) while protecting margins across the industry, and we still face a challenging path to net zero.
But that’s where Photon Multiplication comes in. Merging organic chemistry, quantum mechanics and nanocrystal science together, our team has developed a world-first advanced material that significantly boosts panel efficiency, without requiring a redesign of PV modules or disrupting the entire manufacturing process.
We don’t need more panels, we need more power output – at the right cost and conditions.
By transforming high-energy photons into silicon-optimised infrared light, our Photon Multiplier breaks through the solar efficiency ceiling boosting output by up to 15%.
A drop-in solution designed to align with established PV industry processes, the Photon Multiplier is the simplest, lowest-cost way to significantly boost power output on the market. When compared to alternatives like Perovskite-Silicon tandems, it offers a practical and scalable solution, with no additional CAPEX, adoption risk or disruption.
Addressing a billion-dollar market
Last year solar PV accounted for ‘81% of all new renewable energy capacity added worldwide.’ It now stands to become the single largest source of supply to the global energy sector by 2050. The market is there, but will its remarkable progress continue?
Yes – as long as we solve some of solar’s key challenges: identifying suitable areas of land, developing long-lasting, affordable energy storage, and overcoming the PV efficiency limit that constrains the range of financially viable solar installations currently available.
Our Photon Multiplier is the solution to that efficiency limit. IP-protected and asset-light, it’s the only drop-in solution for high-efficiency solar panels of its kind, offering industry players a unique competitive advantage in the renewables sector. With a Total Addressable Market of over $18bn by 2034, our Photon Multiplier offers proponents the chance to capitalise on solar’s market momentum, as well as the opportunity to reshape the industry strategically, economically, and geopolitically.
The next few years are crucial for solar development
As the IEA reports, we already have most of the technologies needed to achieve ‘the necessary deep cuts in global emissions by 2030’ as well as the proven ‘policies that can drive their deployment.’ But achieving this requires unwavering support from governments, businesses, and investors working together.
Now is the time to focus on making solar as efficient and powerful as possible, before it’s too late. With the first product launch set for 2028, our Photon Multiplier can do just that – at the speed needed to make a real difference to net zero efforts and at the lower LCOE this rapid growth demands.
