ZURICH, Nov. 18,
2024 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX:AMC), a
global leader in developing and
producing responsible packaging solutions, today announced
it has signed a Memorandum of Understanding (MOU) with U.K.-based
technology pioneers, Power Roll Limited. Amcor and Power Roll's
collaboration aims to revolutionize solar-powered energy by
developing a lightweight solar photovoltaic film that can deliver a
low-cost alternative to silicon solar panels.
Power Roll's film material provides a lightweight and flexible
solution that can be used on a variety of applications from fragile
rooftops, facades, off-grid local generation and within the
transport sector. Importantly, Power Roll's technology is not
reliant on rare earth minerals and can be manufactured using
roll-to-roll processes.
Amcor is already active in the solar photovoltaic market,
utilizing its advanced barrier technologies and roll-to-roll
manufacturing processes. Through this collaboration, Amcor aims to
strengthen its presence in this rapidly growing sector, further
exploring opportunities to produce and market components for
photovoltaic film solutions.
Frank Lehmann, vice president of
Corporate Venturing and Open Innovation at Amcor, said: "The
innovative solar film technology developed by Power Roll has the
potential to revolutionize the solar energy industry, providing
ultra-low-cost green electricity on a global scale. Through its
partnership with Amcor, we are confident that Power Roll will
continue to contribute significantly to the global transition
towards net zero."
Neil Spann, chief executive of
Power Roll, said, "We are delighted by the support we have
received from Amcor, which will allow us to accelerate our growth
and expand our impact. With one in three commercial rooftops unable
to handle the weight of traditional solar panels, equivalent
to 12 billion m2 globally, our mission is to lead a
global rooftop solar revolution, starting here in County Durham, U.K. The need for low-cost
clean energy has never been greater and Power Roll offers a
solution by leveraging these underutilized rooftops where
conventional heavy and rigid silicon panels cannot be deployed as
well as many other applications."
Amcor and Power Roll will hold further discussions on final
terms and arrangements for Power Roll's ongoing funding round,
which will be subject to respective internal approvals.
Amcor is engaged in multiple start-up investment and partnership
opportunities, supporting their journeys through the sharing of
expertise from Amcor's own research and development teams, and
exploring the potential for joint undertakings. These innovative
collaborations include strategic investments into ePac Flexible
Packaging, PragmatIC Semiconductors, Pulpac's fiber technology and
Licella's recycled content, as well as seed-funding for start-ups
– Nfinite Nanotechnology, Bloom Biorenewables,
circolution and Greyparrot – as part of the Amcor
Lift-Off initiative, through which early-stage start-up companies
can secure investment toward the development of innovative and
sustainable technologies.
Learn more about Amcor's Lift-Off program and corporate
venturing.
About Amcor
Amcor is a global leader in developing and producing responsible
packaging solutions across a variety of materials for food,
beverage, pharmaceutical, medical, home and personal-care, and
other products. Amcor works with leading companies around the world
to protect products, differentiate brands, and improve supply
chains. The Company offers a range of innovative, differentiating
flexible and rigid packaging, specialty cartons, closures and
services. The company is focused on making packaging that is
increasingly recyclable, reusable, lighter weight and made using an
increasing amount of recycled content. In fiscal year 2024, 41,000
Amcor people generated $13.6 billion
in annual sales from operations that span 212 locations in 40
countries. NYSE: AMCR; ASX: AMC
www.amcor.com I LinkedIn I YouTube
About Power Roll
Power Roll, headquartered near Seaham, County Durham, is a leading technology
disrupter in the flexible PV market that has developed an
innovative, lightweight solar power film for commercial and
industrial buildings. In the UK, one third of commercial rooftops
cannot handle the weight of traditional solar panels;
equivalent to 12 billion square meters globally. Power Roll's
microgroove film provides a lightweight and flexible solution which
is suitable for low-load bearing rooftops, building integration,
transport, portable applications, off-grid projects and more.
With solar energy expected to be the world's largest source of
power by 2050, providing 40% of the world's electricity, flexible
PV can unlock £250 billion of an untapped market for commercial and
industrial rooftops. To date, Power Roll has proven the technology
and manufacturing process, 24 patent families with over 120
individual patented rights and established blue chip manufacturing
partners, suppliers and potential customers.
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SOURCE Amcor