Tandem PV Acquires nexTC to Bring Critical Coating Technology In-House

Acquisition adds advanced thin-film coating expertise as Tandem PV scales its Fremont demonstration line and prepares for commercial production

FREMONT, Calif.--(BUSINESS WIRE)--Tandem PV, a U.S. developer and manufacturer of high-efficiency perovskite-silicon solar panels, announced today that it has acquired nexTC Corporation, an Oregon-based developer of advanced thin-film metal oxide coating processes.

The acquisition brings nexTC’s coating technology, intellectual property, and technical expertise into Tandem PV, giving the company greater control over a critical coating process as it ramps its Fremont demonstration line and prepares for commercial-scale production.

nexTC specializes in solution-based transparent oxide coatings. In tandem solar panels, these ultrathin layers modify charge transport while allowing sunlight to reach the silicon cell below. Their performance is important to module efficiency, durability and manufacturability.

“We've worked with Cory for years and know firsthand the value of his expertise in oxide thin films, which are critical to building durable, high-performing perovskite modules,” said Scott Wharton, CEO of Tandem PV. “Bringing Cory’s expertise and nexTC's technology into Tandem gives us greater control over a core part of the manufacturing process and allows us to optimize it directly on our production line as we scale.”

The acquisition follows the opening of Tandem PV's 65,000-square-foot commercial demonstration factory in Fremont. The facility houses a production line with approximately 40 MW of annual nameplate capacity and is producing large-format tandem solar panels for customer validation and market trials.

Founded in 2018 as a spinout from an NSF-funded research center at Oregon State University, nexTC draws on deep expertise in solution-based thin-film chemistry. Founder and CEO Cory Perkins, Ph.D., will join Tandem PV as part of the acquisition. His work has contributed to 17 peer-reviewed publications and six patent applications.

“After collaborating with Tandem PV on several projects, I saw a team that combines strong science with the ability to move technology onto a manufacturing line,” said Perkins. “Joining Tandem gives us the opportunity to integrate nexTC's coating technology directly into a manufacturing platform advancing toward commercial-scale production.”

Tandem PV’s technology combines a thin perovskite light-absorbing layer with conventional silicon so that each material captures a different part of the solar spectrum. The tandem design enables panels to generate more electricity from the same area, reducing the land, labor and infrastructure required to deploy each watt of solar power.

About Tandem PV

Tandem PV delivers next-generation perovskite-silicon solar panels that offer the market’s best combination of efficiency and durability, designed for high-volume production. The company manufactures in the United States, restoring U.S. leadership in advanced solar technology, lowering costs, and strengthening clean energy supply chain resilience. Co-founder and CTO Colin Bailie developed the world’s first perovskite-silicon tandem solar cell at Stanford University before launching Tandem PV through the U.S. Department of Energy’s Activate accelerator. To date, the company has raised $100 million in venture capital, debt, and government funding from Eclipse, Constellation Energy, 8090 Industries, Trellis Climate, the U.S. Department of Energy, the California Energy Commission (CEC), and others.

About nexTC

Founded in 2018 in Corvallis, Oregon, nexTC Corporation develops advanced processes for manufacturing high-performance, low-cost thin-film coatings for applications in energy conversion, energy efficiency, and electronics.