Tandem PV has acquired nexTC Corporation, an Oregon-based developer of advanced thin-film metal oxide coating technologies, bringing a critical manufacturing process in-house as the company scales production of its perovskite-silicon tandem solar panels in the United States. Financial terms of the acquisition were not disclosed.
The transaction gives Tandem PV ownership of nexTC’s coating technology, intellectual property and technical expertise, allowing the company to integrate a key production process directly into its manufacturing operations. The acquisition comes as Tandem PV ramps production at its recently opened commercial demonstration facility in Fremont, California, and prepares for commercial-scale manufacturing.
nexTC specializes in solution-based transparent metal oxide coatings that play a critical role in tandem solar cell performance. These ultrathin coatings regulate charge transport while allowing sunlight to pass through to the underlying silicon layer, making them essential to improving module efficiency, durability and large-scale manufacturability.
“We’ve worked with Cory for years and know firsthand the value of his expertise in oxide thin films, which are critical to building durable, high-performing perovskite modules,” said Scott Wharton, chief executive officer of Tandem PV. “Bringing Cory’s expertise and nexTC’s technology into Tandem gives us greater control over a core part of the manufacturing process and allows us to optimize it directly on our production line as we scale.”
The acquisition follows the opening of Tandem PV’s 65,000-square-foot commercial demonstration factory in Fremont. The facility includes a production line with approximately 40 megawatts of annual nameplate capacity and is currently manufacturing large-format tandem solar panels for customer validation and commercial market trials. Integrating nexTC’s coating technology into that production line is expected to support the company’s transition toward larger-scale manufacturing.
Founded in 2018 as a spinout from a National Science Foundation-funded research center at Oregon State University, nexTC has focused on developing advanced solution-based thin-film coating technologies for energy conversion and electronics applications. As part of the acquisition, founder and Chief Executive Officer Cory Perkins, Ph.D., will join Tandem PV. His research has contributed to 17 peer-reviewed publications and six patent applications.
“After collaborating with Tandem PV on several projects, I saw a team that combines strong science with the ability to move technology onto a manufacturing line,” Perkins said. “Joining Tandem gives us the opportunity to integrate nexTC’s coating technology directly into a manufacturing platform advancing toward commercial-scale production.”
The transaction supports Tandem PV’s broader strategy of commercializing perovskite-silicon tandem solar technology, which combines a perovskite light-absorbing layer with conventional silicon cells to capture a broader portion of the solar spectrum. The tandem architecture enables higher energy output from the same panel footprint, improving electricity generation while reducing the land, labor and infrastructure required for solar deployments.
As competition intensifies to commercialize next-generation solar technologies, manufacturers are increasingly seeking greater control over proprietary materials, production processes and supply chains. By integrating nexTC’s coating technology into its manufacturing platform, Tandem PV is strengthening its position as it advances toward commercial-scale production while expanding domestic manufacturing capabilities for high-efficiency solar modules.
Headquartered in the United States, Tandem PV has raised approximately $100 million through venture capital, debt financing and government funding to support the commercialization of its perovskite-silicon solar technology. The company manufactures domestically with the goal of advancing U.S. solar manufacturing, improving panel efficiency and strengthening clean energy supply chain resilience.
