GÖRG advises NexWafe on EUR 39 Mio Series C Financing Round with Reliance New Energy Solar Ltd as strategic lead investor

Munich, 28.10.2021

GÖRG Partnerschaft von Rechtsanwälten mbB advised NexWafe GmbH in a EUR 39 million ($45 million) Series C Financing Round with an investment of EUR 25 million ($29 million) in phase one, led by the Munich partner Dr. Bernt Paudtke with Reliance New Energy Solar Ltd, a wholly owned subsidiary of Reliance Industries Limited (Reliance), as strategic lead investor. 

Reliance and NexWafe have also entered into an India Strategic Partnership Agreement providing for joint technology development and commercialization, at scale, of high efficiency monocrystalline green solar wafers.

Through this partnership Reliance will secure access to NexWafe’s proprietary technology and plans to build large-scale wafer manufacturing facilities in India using the NexWafe processes and technology.

Other investors joining Reliance in the Series C Round include InnoEnergy, Lynwood, Saudi Aramco Energy Ventures and other incumbent and new investors. 

Advisors NexWafe GmbH

GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Bernt Paudtke, Partner, M&A / Corporate, Munich 
Dr. Christian Glauer, Associated Partner, M&A / Corporate, Munich 
Dr. Florian Schmitz, Partner, IT & Outsourcing, Frankfurt am Main
Dr. Henning Wendt, Associated Partner, Public Commercial Law, Hamburg
Dr. Katharina Landes, Counsel, IP & IT, Cologne
Tobias Reichenberger, Associate, M&A / Corporate, Munich

Advokatfirmaet Ræder AS
Carl Garmann Clausen, Partner, Oslo

Advisors Reliance

Linklaters LLP
Dr. Jens Hollinderbäumer, Partner, M&A / Corporate, Berlin
Savi Hebbur, Partner, Mainstream Corporate and India Group, London
Josepha Mallwitz, Associate, M&A / Corporate, Berlin
Natalie Ellerby, Counsel, TMT, London
Dr. Bolko Ehlgen, Partner, IP/Dispute Resolution, Frankfurt
Dr. Jana Hager, Counsel, Public Law, Berlin
Katharina Lemke, Associate, Public Law, Berlin 
Lisa Bauer, Associate, IP/Dispute Resolution, Frankfurt

Advisors Saudi Aramco Energy Ventures

White & Case LLP
Dr. Murad M. Daghles, Partner, M&A / Corporate, Düsseldorf
Dr. Philipp Kynast, Associate, M&A / Corporate, Düsseldorf
Timo Heppner, Associate, M&A / Corporate, Düsseldorf

Advisors Green Growth Fund 2 GmbH & Co. KG

Taylor Wessing Partnerschaftsgesellschaft mbB
Dr. Jens Wolf, Partner, M&A / VC, Hamburg  
Dr. Niclas von Woedtke, MBA (Kellogg/WHU), Salary Partner, M&A / VC, Hamburg  

About NexWafe GmbH

NexWafe GmbH designs, develops and pilots a proprietary process to produce ultra-thin, high efficiency, mono-crystalline green solar wafers to make photovoltaics more sustainable and efficient. Fully compatible with conven-tional solar cell manufacturing, NexWafe offers a 70% reduction in carbon dioxide emissions during manufactur-ing. NexWafe’s continuous, direct gas-to-wafer manufacturing process also minimizes waste, resulting in wafers that are 30% less expensive than conventional wafers. NexWafe’s in-line, ultra-scalable process shatters cost down roadmap barriers and inherently supports the industry’s extraordinary growth as the transition to solar power accelerates worldwide. The company was spun out from Fraunhofer Institute for Solar Energy Systems ISE in 2015.


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