Innovate UK-backed Cambridge spin-out secures £1.56m to commercialise 15% solar booster
This article covers Cambridge Photon Technology, a University of Cambridge deep-tech spin-out, which has raised £1.556m in a pre-Series A round combining private equity and an Innovate UK grant to develop a photon-multiplier intended to boost silicon solar output. The funds will support expansion of R&D in Cambridge, scaled trials and preparation for a larger Series A as the company seeks to commercialise a drop-in module upgrade targeting asset owners, installers and the UK and global solar sector.
Cambridge Photon Technology, a University of Cambridge deep-tech spin-out, has raised £1,556,000 in a pre-Series A round combining private equity and an Innovate UK grant to push a photon-multiplier that aims to boost silicon solar output by up to 15%. The funding will expand R&D in Cambridge and prepare the company for scaled trials and a larger Series A as it seeks to commercialise a drop-in upgrade for existing solar panels.
Why it matters
Silicon photovoltaics dominate global solar deployment but are approaching their theoretical efficiency ceiling of around 28 per cent. Solutions that raise energy yield without replacing panels or factories are attractive to asset owners and installers because they avoid large capital expenditure and complex supply-chain changes.
Cambridge Photon Technology (CPT) presents a route to incremental gains by adding a module-level upgrade that converts otherwise wasted sunlight into wavelengths silicon can use. If the claimed 10 to 15 per cent output lift is realised at scale, it could materially change the economics of existing solar fleets and new installations alike.
Inside the product
CPT has patented a photon-multiplier that converts each high-energy photon, normally lost as heat, into 2 infrared photons that silicon can absorb. The company says the device is compatible with standard solar modules and does not require redesign of panels or manufacturing lines. The announcement also states this is the first demonstration of this photon-multiplication effect at scale.
The stated approach positions CPT as a materials and module integrator rather than a panel manufacturer. The energy startup plans further material testing with global industry partners and pilot deployments ahead of commercial roll-out.
Who’s backing the round
The pre-Series A package totals £1,556,000, split between £926,000 in equity investment and a £630,000 grant from Innovate UK’s Investor Partnerships: Clean Energy and Climate Technologies programme. Equity investors named in the announcement include Cambridge Enterprise Ventures, Spectrum Impact, Tybourne Capital, Providence Investment Company and SourceSquared.
Cambridge Enterprise participated as an Innovate UK Investor Partner, enabling the grant component that pairs non-dilutive R&D funding with aligned private investment. The mix of UK and international backers reflects cross-border interest in hardware-focused clean-energy innovations.
In the announcement, Chris Gibbs, Investment Director at Cambridge Enterprise Ventures, said:
Cambridge Photon Technology exemplifies the kind of transformative innovation needed to accelerate the global transition to sustainable energy and address climate challenges. We are proud to have supported the company from the beginning and now in this next exciting phase of its journey.
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Founder perspective
In the announcement, Dr Claudio Marinelli, CEO of Cambridge Photon Technology, said:
This investment demonstrates strong private-sector confidence in CPT’s technology and vision. Attracting backing from leading investors across the UK, India and Asia underlines the global relevance of our approach and its potential to transform solar efficiency at scale. The Innovate UK programme provides a powerful layer of support, helping us bridge early-stage development and commercial readiness. Together, this funding positions CPT to accelerate product readiness and bring a breakthrough British innovation to the global clean-energy market. The company says the new funds will support expansion of its Cambridge R&D operation, accelerate testing with industry partners, and fund preparations for a larger Series A ahead of pilot deployment. CPT aims to bring a first product to market by 2028.
The bigger picture
The round illustrates a familiar pattern in UK and European energy deep-tech: combinations of grant funding and equity from both local and international investors are being used to derisk hardware innovations before larger venture rounds or industrial partnerships. Innovate UK’s Investor Partnerships programme, which pairs non-dilutive grants with aligned private capital, has become a common route for early-stage climate tech teams seeking to scale lab prototypes toward commercial pilots.
For the UK solar sector, incremental, module-level efficiency gains could be a pragmatic lever as policymakers and investors push to expand renewable capacity while managing system costs. CPT will need to demonstrate reliability, durability and clear integration pathways with existing module and project owners before the technology moves beyond pilot projects into broad adoption.
This funding event is another data point in the evolving European climate-tech ecosystem where material science start-ups seek to translate lab-scale physics into deployable products with a combination of public grant support and private investment.
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