Project XTPL – Platinum Seed’s example of a successful exit is one of the 10 best Polish B2B startups in the Presidential Palace in Poland
XTPL – the young company Platinum Seed invested in 2015 and exited in 2016 is one of the 10 selected best B2B Polish startups having the great opportunity to pitch and network with the President of the Republic of Poland, as well as top VCs and executives from big companies. This is the second time Startup Poland is organizing a pitching contest in Presidential Palace. Winning teams will also take part in presidential foreign trade missions.
XTPL was founded in 2015. Platinum Seed Incubator invested in the company at the very beginning of its activities. The XTPL’s founders decided to buy back shares that were held by the Incubator in April 2016. XTPL is developing a breakthrough technology of producing ultra-thin electrically conductive lines.
– The task of the seed fund is to invest in companies at an early stage of the business to help them develop the idea. All this in order to eventually sell its stake at a profit when the company will function well. When we started working with XTPL I knew that their technology had a future. Evaluation of the project and the potential of the team did not disappoint. Today, funds invested in the company have been returned to us multiplied, and the technology itself has entered a new level of development – said Michał Ciemiński, CEO of Platinum Seed.
The XTPL technology has entered a new stage. It has been verified and operates in laboratory conditions. It is protected by a patent application. This is the reason the company decided to change its financing method.
– The average time to exit the fund investment is 5-7 years. We managed to reach the established milestone in the development of our technology faster. Work on further developing our method of producing ultra-thin conductive lines is very promising. We have managed to reduce the width of the lines printed for less than one micrometer and enter into a very attractive scale of nanometers. These results are highly valued by our scientific and business partners operating globally in the market of solar cells – it only strengthens our faith in XTPL. We know that we are working on a unique technology. That’s why we decided to buy back shares of the fund by going to the next stage of the project – said Dr. Filip Granek, CEO and co-founder of XTPL – The decision was not easy, among others, it required us to take a loan, but we really believe in the success of our project and we have no doubt that this is a very good investment.
XTPL was founded in 2015. After several months, the company developed a technology that has won over the biggest players in the global PV market. Today, the Polish scientists’ idea is applied on a laboratory scale. XTPL’s goal is to move as quickly as possible to the level of readiness to implement, because there are already many companies interested in the technology.
The XTPL company develops transparent conductive films (TCF), which are used as transparent electrodes in thin-film solar cells and LCD displays.
XTPL’s technology enables the production of ultra-precise structures, using a method that is scalable and can be inexpensive. Figuratively speaking, scientists create and imprint a grid of very thin wires on foil or glass, which are one hundred times thinner than a human hair and conduct electricity. With this size, the line light stops reflecting off them, and thus, becomes transparent. At the same time they conduct electricity. The material – glass or film – on which this type of a grid is printed, is also transparent and electrically conductive.
Thanks to XTPL’s technology, solar cells may be more efficient, cheaper and manufactured on flexible surfaces. Displays can consume less energy, and have a higher luminance of image and colour. Manufacturers will also be able to make larger screens.
Laboratory results and plans for the development of the technology have already convinced many manufacturers around the world. XTPL has received several letters of intent, including one from the largest manufacturer of photovoltaic modules – Trina Solar.
Today the XTPL technology has entered the stage which allows it to be presented. The main XTPL’s goal is now to present the first version of the lab printer dedicated to research and development centres.