Mitsui Fudosan Co., Ltd. (Mitsui Fudosan) has invested in Caelux Corporation (Caelux), a pioneer in utilizing perovskites to make solar energy more powerful and cost-effective, through its corporate venture capital fund, 31VENTURES Global Innovation Fund II (31VENTURES II).<\/p>\n\n\n\n
Caelux\u2019s proprietary technologies improve the performance of any new crystalline silicon module, making solar energy production much more efficient and cost-effective. The company is building a manufacturing facility in Baldwin Park, California, and ramping up to reach 100MW of perovskite-coated glass. The company\u2019s full-release product, \u201cCaelux\u2122 One\u201d will be a major step forward in realizing the industry goal of greater than 30% efficient commercial tandem solar modules while meeting market requirements for durability. The advancements in scalability, efficiency, and reliability will lead to lower installation costs for developers and installers, increased revenue for module makers, and better returns at the project level by delivering more green energy at a lower cost compared to traditional crystalline silicon modules.<\/p>\n\n\n\n
Mitsui Fudosan is Japan\u2019s leading real estate company. It develops, owns, and operates many real estate assets in Japan as well as abroad, particularly in the U.S., U.K., and fast-growing Asian countries.
In the U.S., it has developed various real estate projects in major cities since 1973, including offices buildings and multi-family apartments. Recently, it has participated in the “50 Hudson Yards” office building, which comprises the large-scale “Hudson Yards” mixed-use development in Manhattan.
In Southeast Asia, it has developed offices, shopping malls, hotels, and residential projects in each county and area, and started to develop logistics facilities in recent years.<\/p>\n\n\n\n
Mitsui Fudosan has formulated the “Group Action Plan to Realize Decarbonized Society” to achieve net-zero emissions by 2050, and is promoting open innovation for the creation of new technologies, including collaboration with the public, private, and academic sectors, investment in startups, and the provision of a venue for demonstration experiments to realize this goal.<\/p>\n\n\n\n
Mitsui Fudosan has decided to invest in Caelux, in recognition of the strong technology it has developed, large market potential for it, and progress Caelux has made in scaling manufacturing capabilities. Mitsui Fudosan is joining a strong investor syndicate – including Reliance Industries, a leading solar power generation business in India. Through this investment, Mitsui Fudosan will support Caelux to become a leading company in the next generation solar industry.<\/p>\n\n\n\n
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