The company was founded in 2010 by
Henry Snaith the
University of Oxford,
Innovate UK the
European Investment Bank (EIB),
Legal & General, the
Engineering and Physical Sciences Research Council (EPSRC) and
Equinor. The largest shareholder is the Swiss cell and module production equipment manufacturer
Meyer Burger. In January 2024, they set a new record of 25% efficiency from industrial sized solar modules. In June 2024, they set another new world record for residential solar panels achieving a 26.9% efficiency from perovskite-on-silicon tandem solar cells. This will allow consumers benefit from upwards of 20% more power from the same footprint. ==Operation==