Perovskite solar panel startup Verde Technologies shifts focus to space

TAMPA, Fla. — Verde Technologies is turning to space to commercialize perovskite-based solar panels, shifting its initial focus away from rooftops in a bet that the thin-film material can help power orbital data centers and other large constellations. Former Honeywell executive Jean-Noël Poirier is joining the Burlington, Vermont-based startup as CEO July 8 to lead its push into space. Chad Miller, who cofounded the University of Vermont spinoff in 2021, is stepping aside to take a chief technology officer role. Verde initially set out to apply its lighter, flexible solar technology to terrestrial applications such as low-load commercial rooftops and the re-powering of aging solar farms using peel-and-stick adhesive backing. The venture has successfully completed terrestrial trials and won funding from U.S. government agencies including the Department of Defense, but now sees a more compelling early market in space, particularly where shorter mission lifetimes could ease some of the durability challenges facing perovskite technology. “Perovskite solar technology is uniquely suited for space given its very high power to weight ratio, radiation tolerance, flexible form factor etc.,” Verde chief commercial officer Skylar Bagdon said via email. Whereas terrestrial panels usually need to last at least 30 years, many satellites in low Earth orbit are designed for missions closer to five years. “The main reason we didn’t pursue space sooner is frankly that we didn’t see a large enough market opportunity until recently,” he said. “We had, perhaps an outdated, view of the size of the opportunity and it was many orders of magnitude smaller than the opportunities we saw on earth. “However, that has recently changed with the rise of orbital data centers planned by many companies, high volume communication constellations, plans for lunar bases, etc.” Verde anticipates hundreds of gigawatts of demand for space solar power in the coming years as other megaconstellations are set to join SpaceX’s Starlink in low Earth orbit (LEO). Others also see a growing opportunity to provide more flexible and cost-effective alternatives to traditional space solar cells built with gallium arsenide semiconductor material. In New York, mPower Technology is ramping up space-grade solar module production using commercial off-the-shelf silicon-based processes and equipment. Customer backing Verde says it has attracted investment from multiple venture funds and industry veterans, including Steve Bolze, the former CEO of GE Power (now GE Vernova after being spun off from General Electric), who joined the startup as an adviser in 2024. Bagdon said Verde’s last undisclosed funding round earlier this year was in support of kicking off customer-funded projects, including a major customer in space he did not name. “The main thing we are working on now is optimizing our materials, process and packaging for the unique temperature and environmental conditions experienced in space,” he said.…