Mercia Fund Management (MFM) portfolio company Molecular Solar
has triumphed at the 2011 Lord Stafford Awards, winning its
prestigious Innovation in Development Award.
Molecular Solar is pioneering ultra-thin, flexible solar panels
that can be used in portable chargers for mobile phones and other
handheld devices, allowing devices to be recharged without needing
to be connected to a mains power supply.
As well as being a convenient way to charge electronic
equipment, the technology will also help to reduce an individual's
carbon footprint.
The Lord Stafford Awards showcase collaboration between business
and universities and Molecular Solar was recognised for its very
successful partnership with the University of Warwick.
MFM invested via the Mercia Fund 1 earlier this year and has
been instrumental in securing funding and building the commercial
management team to enable Molecular Solar to translate the research
done in the University's Department of Chemistry into marketable
products.
Most recently, Molecular Solar announced that its solar cells,
which are made from organic photovoltaic materials, can now produce
voltages of over 4 watts, making its technology suitable for
recharging the lithium-ion batteries used in many handheld devices.
This means the cells are now ready to be developed for commercial
use.
At a ceremony held on the 17th November in the University of
Birmingham's Great Hall, Molecular Solar's academic founders,
Professors Tim Jones, Mike Shipman and Dr Ross Hatton were
presented with the award by Lord Stafford.
Professor Shipman says: "Molecular Solar is founded on the
strength of its partnerships with the University of Warwick, the
Department of Chemistry, and other companies with whom we are
working closely. We are delighted that the success of those
partnerships has been recognised by the Lord Stafford team."
Andrew Oldfield, Head of Cleantech at MFM, says: "MFM has a
great track record of investing in successful Central England based
technology businesses and it is always a great honour to be
recognised in the Lord Stafford Awards. We are delighted with
Molecular Solar's achievement and look forward to working with them
as they continue to grow and develop a truly ground-breaking
technology. Our latest fund, the Mercia EIS growth fund will help
us to extend this success"