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The Business Magazine July 2024
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Oxford PV named Most Cutting-Edge Solution in Power and Energy at E&T Innovation Awards 2022

The Business Magazine article image for: Oxford PV named Most Cutting-Edge Solution in Power and Energy at E&T Innovation Awards 2022
23 November 2022

University of Oxford spin-out Oxford PV, a leader in the field of perovskite solar photovoltaics, has been named the winner of the Power and Energy category at the Institution of Engineering and Technology’s (IET) E&T Innovation Awards.

The annual award acknowledges ground-breaking innovations from the world of science, technology, engineering and maths.

Oxford PV received the accolade for its perovskite solar cell technology.

The company puts a thin layer of its unique perovskite solar absorber material on the top of standard silicon solar cells to convert significantly more of the sun’s energy into electricity.

The resulting ‘tandem’ solar cells are incorporated into conventional solar panels to generate more power and can reduce the cost of solar energy.

Oxford PV CEO Frank Averdung said: “This award is a recognition of the significant role that Oxford PV’s cutting-edge solar cells can play in the global renewables transition. We are incredibly proud of our team for developing the technology over the years, and we look forward to bringing our product to market.”

CTO Chris Case added: “Our two-terminal perovskite-on-silicon technology has been designed and refined to be the best next technology for solar cells with efficiencies beyond 27 per cent.

"Built into solar panels, our technology can deliver at least 20 per cent more power over conventional silicon solar cells.”

Oxford PV’s perovskite-on-silicon technology has set multiple world records for the amount of solar energy that can be converted into electricity by a single solar cell. The company will begin volume manufacturing at its site in Brandenburg an der Havel, Germany, in 2023.


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Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country.

An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts.

Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.

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