Swift Solar Announces Cooperation with Plenitude for Next-Generation Solar Technology

Strategic partnership advances perovskite technology toward utility-scale commercialization

SAN CARLOS, Calif., Nov. 24, 2025 /PRNewswire/ -- Swift Solar, the US pioneer in perovskite tandem solar technology, today announced working with Plenitude for utility-scale pilot testing and evaluation of long-term supply arrangements.

Plenitude is a company controlled by Eni, one of the world's largest energy companies. Plenitude is targeting 15 GW of renewable capacity by 2030. Eni Next, the corporate venture capital arm of Eni, is also a major strategic investor in Swift Solar, which is advancing its US manufacturing capabilities to meet growing demand from major developers.

This partnership is an important milestone in the commercialization of perovskite technology for utility-scale solar and includes pilot testing of Swift Solar's technology at one of Plenitude's US solar facilities, providing early-stage validation of performance and durability under utility-scale operating conditions. Plenitude's commitment demonstrates growing industry interest in the technology's advancement toward commercial deployment.

"Major developers don't run pilots unless they see real commercial potential, and this reflects Plenitude's interest in exploring next-generation solar," said Joel Jean, CEO and co-founder of Swift Solar. "We're seeing the same urgency from customers across industries. Everyone wants higher performance and more secure domestic supply chains."

Swift Solar's perovskite-silicon tandem technology is expected to achieve module efficiencies of 28% or higher, compared to conventional solar panels at 20–24% today—up to 40% more power from the same footprint. As electricity demand surges from AI data centers, this efficiency advantage becomes increasingly valuable, enabling maximum power generation from limited land while reducing installation costs and improving project economics.

Swift Solar has developed proprietary perovskite tandem technology pioneered by its founders, who created the foundational IP used in world-record tandem cells. The company's technology is backed by exclusive IP from MIT, Stanford, and NREL, with over 40 patents and over $60M in funding from leading VCs, strategic investors, and government agencies including the US Department of Energy and US Department of Defense.

The partnership builds on Swift Solar's momentum in commercializing perovskite technology across utility-scale, commercial, industrial, defense, space, and telecommunications sectors.

About Swift Solar

Swift Solar is the US pioneer in perovskite tandem solar technology, developing breakthrough solar cells for commercial deployment. Learn more at swiftsolar.com.

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SOURCE Swift Solar Inc.