Mitsubishi Electric's ME innovation fund backs U.S. startup Solestial

Mitsubishi Electric Corporation announced that its ME Innovation Fund has invested in Solestial, Inc., a U.S. startup focused on developing and producing solar cells for space applications using silicon heterojunction technology.

This is the fund’s tenth investment. The investment follows increased satellite launches driven by satellite miniaturization and cost reduction, raising concerns about potential shortages in solar cell supply, a critical satellite component. Solestial’s solar cells are designed to offer improved radiation resistance, lower costs, faster delivery, and reduced weight compared to conventional products. Mitsubishi Electric seeks to strengthen its space business through Solestial’s technology. Margo de Naray, CEO of Solestial, stated that the partnership with Mitsubishi Electric will support further technological development. For more details, visit www.MitsubishiElectric.com/news/.