Capricorn and GIMV back solar specialists

Capricorn Venture Partners has co-led a €3m fund first funding round of NovoPolymers, a Belgian cleantech business, alongside GIMV, with each VC committing €1.5m.

NovoPolymers develops and produces transparent polymer based films for use in solar panels in a more cost-effective way than is currently supplied.

Paul Decraemer, head of the Capricorn Cleantech Investment Practic said: “NovoPolymers could not start at a better moment. It is now the right time to create a technology and production platform that will be ready in time to cope with the next wave of growth in this sector, which is expected as of the end of 2010.”