The economics
Value at the factory. Returns at the project.
One contact technology, two potential economic benefits — with an asset-light licensing model designed to capture a share of the value created.
Manufacturer economics
A small process change.
A material margin opportunity.
Our first-order reference case links incremental processing cost to greater selling value. Factory economics remain subject to pilot validation.
Preliminary reference modelling rounds net economic gain to approximately $0.20 per wafer. This first-order estimate excludes interest and consumables; fully loaded cost requires industrial validation.
$10–13
Estimated additional margin per moduleCommercial scenario
Interactive project finance
What does more energy
mean for your returns?
Compare the same project footprint with an editable energy-yield scenario. Every return is calculated from annual cash flows.
Illustrative pre-tax modelYour project
MW
MWh/MW
€/MWh
%
Uplift is a separate scenario assumption. Reduce it if clipping or grid constraints prevent additional energy from being delivered.
Finance assumptions
€/kW
€/kW
years
%
%
%
years
€/kW
Fixed tariff and operating costs. Equal degradation in both cases. Fully amortising annual debt payments. No tax, incentives or terminal value.
Equity IRR: conventional 12.05%, SiVolt scenario 16.23%.EUR · after debt service
Modelled equity IRR25-year project
Conventional12.05%
SiVolt scenario16.23%
+4.17 percentage points at 80.0% debt
Year 1ConventionalSiVolt scenario
Generation1,700.0 MWh1,863.2 MWh
Revenue€68,000€74,528
Project IRR7.49%8.83%
Year-1 DSCR1.25×1.40×
Minimum DSCR1.17×1.31×
Additional Year-1 revenue€6,528
Project IRR difference: +1.34 percentage points.
Annual equity cash flow
ConventionalSiVolt scenario
October 2026 Reference Model. The 9.6% uplift requires field validation; it is not derived from the cell-efficiency development target. The reference case assumes no incremental SiVolt project capex. Results are illustrative pre-tax scenarios, subject to project-specific validation.
SiVolt licensing economics
Recurring royalties.
Limited asset ownership.
Our commercial model focuses on long-term licensing royalties. We aim to license our contact technology and process know-how to manufacturers, with equipment integration supporting adoption.
Our model captures a portion of the value created while manufacturers fund their production assets and developers own the generating projects.
Rounded management scenario
$8–15M
Illustrative annual royalty revenue
At 1% adoption of the 700 GW/year TOPCon manufacturing capacity in our October 2026 Reference Model.
1% adoptionRecurring licensingGlobal manufacturing base
The range illustrates a 5% royalty on gross enabled revenue or net margin creation, using rounded management assumptions. Actual licence terms, adoption and economics remain subject to commercial agreements. October 2026 Reference Model.
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