Photon Energy NV Invests in RayGen to Enhance Technology Deployment

Photon Energy NV has announced its third investment in RayGen, participating in one of the largest clean tech funding rounds in Australian history. Joining existing and new investors, Photon Energy commits A$2 million, increasing its stake to 5.47% in RayGen.

The funding round saw a total of A$127 million raised, with major contributions from technology giant SLB and other significant players. This investment supports the global advancement of RayGen’s clean energy technology.

Photon Energy is advancing projects in Australia and South Africa utilizing RayGen's technology, including a planned 150 MW solar plant in South Australia. Additionally, in South Africa, a 250 MW solar plant is underway, highlighting Photon Energy's strategic move into large-scale renewable energy projects.