COMPANY PROFILE / PEROVSKITE SOLAR CELLS
Microquanta
The first specialist to sell: from a 100 MW line to demonstration plants, and on to four-terminal tandems with silicon
Microquanta is a perovskite solar specialist founded in Hangzhou in 2015. In May 2022 it launched what it calls "the world's first commercial perovskite module", α, and says it has been running a 100 MW-class production line for more than three years. Its demonstration power plants add up to more than 30 MW, and in November 2024 it began volume shipments of four-terminal perovskite/silicon tandem modules. Its headline efficiency, however, is 23.9% on a small 19.48 cm² module (which the company says is included in the efficiency tables), while its 2.88 m² production module is rated at 18.60% (company-reported as certified by TÜV SÜD). Drawing on the company's official announcements, this profile sets out the distance between research and production, and what cannot be seen because the company is unlisted.
- Microquanta in 30 seconds, and where it stands in perovskite solar cells
- The logo and how the name is written
- Where the company sits in the perovskite solar cell field
- Scale (unlisted, so read the lines and demonstration plants)
- Resources committed to perovskites
- What it has done so far
- What comes next
- What the company is aiming for in perovskite solar cells
- Map of perovskite partnerships
- Technology, products and services
- The risks this company carries
- Glossary, references and claim-to-source audit
1. Microquanta in 30 seconds, and where it stands in perovskite solar cells
Quzhou, Zhejiang ProvinceProduction is based in Quzhou, at a branch company
(founded by returnees from abroad)Co-founded by CEO Yao Jizhong and CTO Yan Buyi
plus four-terminal tandem with siliconα² (125 W), 2.88 m² (509 W), coloured and see-through products
Companies working on perovskite solar cells fall into three broad types: established PV makers, perovskite start-ups, and materials and electronics firms coming in from other industries. Microquanta is a perovskite start-up, but compared with other specialists it stands out for having built up an early track record of actually making modules, delivering them and generating power with them Sourced. On top of that, since 2024 it has been shipping in volume four-terminal tandems that pair its own perovskite, as a "panel laid on top", with other companies' silicon cells. Rather than compete with the silicon majors, it was the first specialist to turn into a product the path of partnering with them as a component that sits on top of silicon.
2. The logo and how the name is written
The logo is the company's trademark. Rather than recreate it with an image generator, this article uses the logo image from the official website, saved as img/microquanta_logo.png.
A note on names: the legal entity is a Hangzhou joint-stock company registered under a Chinese name (as written in a May 2025 company article), and the brand is written MICROQUANTA in Latin letters. An official English legal name could not be found in the primary sources checked for this article. This article uses the brand name, Microquanta, throughout. Company articles describe the production site in Quzhou as run by a branch company whose name translates as Quzhou Microquanta New Energy Technology Co., Ltd.
Official site: https://www.microquanta.com/3. Where the company sits in the perovskite solar cell field
The company has two product lines Sourced. (1) Glass-type single-junction modules: α (0.79 m²), launched in 2022; its successor α² (125 W); a 2.88 m² module (2400 mm × 1200 mm) announced in November 2025; and the coloured and see-through products in the product list on the official website. (2) Four-terminal perovskite/silicon tandems: a semi-transparent perovskite top cell and an ordinary silicon bottom cell are made separately and then physically stacked by lamination, with no electrical connection between the two. In the primary sources checked for this article, there is no announcement of a film-type (flexible) volume product.
4. Scale (unlisted, so read the lines and demonstration plants)
Microquanta is unlisted and does not publish its revenue, profit or loss, headcount or the amounts it has raised Not yet confirmed. Instead, this section gauges its size from the production lines, demonstration plants and sales that the company has announced.
| Item | What the company has published | As of |
|---|---|---|
| Single-junction production line | "The world's first 100 MW-class perovskite production line". More than three years of continuous operation, with a module yield of 98.5% | Articles from September and December 2025 |
| Four-terminal tandem line | Designed and developed in Quzhou "the world's first highly automated 100 MW-class four-terminal tandem module production line" | Article from August 2025 |
| GW-scale line | Stated that "the GW-scale production line is due to start operating officially in March" (February 2025). No later announcement that it has started could be found in the sources checked for this article | Article from February 2025 |
| Demonstration and commercial plants, cumulative | More than 30 MW of installed capacity in total | Article from August 2026 |
| Overseas sales | Overseas sales "in the tens of millions of yuan" by the first half of 2026, with entry into several countries in Europe, the Middle East and Australia | Article from July 2026 |
| Revenue, profit or loss, headcount, funds raised | Not disclosed | – |
A May 2025 company article says that "2024 shipments accounted for 52.2% of the global perovskite market", and a December article that year claims "a market share above 50%" Sourced. The article, however, presents this only as "an estimate of market share", and gives neither the source of the market size used as the denominator nor the method of calculation. This series does not use market shares based on estimates by research firms or similar, so this article does not treat the share as fact Not yet confirmed.
5. Resources committed to perovskites
| Type of resource | What it is | Category |
|---|---|---|
| People | Co-founded in 2015 by Yao Jizhong (CEO) and Yan Buyi (CTO), who returned to China from abroad. The company says it has development teams covering research, production processes, equipment and manufacturing. Headcount not disclosed | Sourced (headcount not disclosed) |
| Money (R&D, capital expenditure, funds raised) | None disclosed | Not disclosed |
| Universities and research institutes | Zhejiang University (3D laminar air-flow field technology; Science, 2025; selected as a major advance in photovoltaics for 2025), Zhejiang Sci-Tech University (contributor to the same paper), Beijing University of Chemical Technology (co-development of the four-terminal tandem), Nankai National Institute of New Materials (memorandum of cooperation, December 2024) and the China Three Gorges Corporation Science and Technology Research Institute (research on the outdoor performance of tandems) | Sourced |
| Public funding and national recognition | Selected for Zhejiang Province's "Vanguard and Leading Goose + X" science and technology programme (2025) with a project on "stability-efficiency synergy technology and equipment for GW-scale perovskite cells" (led by the Quzhou site). Its four-terminal tandem and 100 MW-class production process were included by the National Energy Administration in the fifth batch of first-of-its-kind major technical equipment in the energy sector. No amounts are disclosed for either | Sourced (amounts not disclosed) |
| Standards | Took part in drafting the first national standard for perovskites (GB/T 6495.12—2026, on measuring I-V characteristics), and in international standards discussions at IEC TC82 WG2 | Sourced |
| Outbound investments and acquisitions | No announcement of investment in or acquisition of other companies has been found | Not confirmed |
6. What it has done so far
Microquanta's announcements run on two tracks: efficiency records on small modules, and production modules and demonstration plants. Read area and certification separately.
| When | What happened | Area and certification |
|---|---|---|
| 2015 | Founded | Official website |
| May 2022 | Launches α (0.79 m²), "the world's first commercial perovskite module" | Company-reported |
| 2022 | Connects a distributed perovskite rooftop plant in Quzhou, Zhejiang, to the grid (described by the company as "the world's first") | Company-reported |
| 2023 | Connects a MW-scale ground-mounted plant in Kubuqi, Inner Mongolia, to the grid | Company-reported |
| November 2024 | Volume shipments of four-terminal tandem modules begin (for China Three Gorges Renewables' 50 MW project in Yicheng). An 8.6 MW plant in Songyang, Zhejiang, is connected to the grid | Company-reported |
| November 2024 | 23.65% on a 6 cm × 6 cm module and 21.5% on 766 cm², using its "frozen crystal" technique (cryogenic laser repair) | Company-reported |
| January 2025 | 21.86% full-area efficiency on an 810 cm² module | 810 cm² / National Photovoltaic Industry Metrology and Testing Center (company-reported) |
| March 2025 | 24.12% (reverse scan) on a 19.48 cm² module, with a full-area stabilised efficiency of 23.93% | 19.48 cm² / same body (company-reported) |
| May 2025 | Publishes its 3D laminar air-flow field (LAD) technology in Science | Paper (as presented by the company) |
| 2025 | Connects a 500 kW four-terminal tandem demonstration plant to the grid. Included in the National Energy Administration's first-of-its-kind equipment list (August) | Company-reported |
| August to December 2025 | Ships more than 50,000 α² modules to China Three Gorges Renewables' 5 MW project in Golmud, Qinghai, which is connected to the grid in December. Supplies China Huaneng's 5 MW demonstration base in Qinghai | Company-reported |
| November 2025 | 2.88 m² module: 509.21 W, 18.60% efficiency. 26.49% on a square-metre-scale perovskite/TBC four-terminal tandem co-developed with another company | Both TÜV SÜD (company-reported) |
| December 2025 | Ships four-terminal tandems to the national PV and energy storage demonstration and testing platform in Daqing | Company-reported |
| 22 January 2026 | Its perovskite tandem module obtains certification to the full IEC 61215 and 61730 test sequences (output of 130 to 170 W, best efficiency 26.49%) | TÜV SÜD (company-reported) |
| February and June 2026 | A full-area stabilised efficiency of 23.9% on the 19.48 cm² module is included in Versions 67 and 68 of the efficiency tables | Company-reported |
| September 2026 | The first national perovskite standard, which the company helped draft, is published (in force from March 2027) | Company-reported |
In the "perovskite single-junction" series of NLR's (formerly NREL's) champion module efficiency chart, Microquanta's name appears as a past record holder Sourced. When this article checked, however, the latest record in that series (22.1%) was held by Renshine Solar and Nanjing University. The 23.9% figure is for a small module of 19.48 cm² (about 4.4 cm square), about 1,500 times smaller in area than the 2.88 m² production module (18.60%) Our calculation. Inclusion in the efficiency tables is as described in company articles; this article has not checked the tables themselves Not yet confirmed.
7. What comes next
In a February 2026 article, the company describes 2026 as the year it will "concentrate on perovskite-silicon tandems and break through on both efficiency and overall stability", and says it will take tandem modules into a larger-scale stage of commercialisation Sourced. A company that built its record in single-junction production has, it seems, cast four-terminal tandems with silicon as its next lead product.
None of the following appears in Microquanta's official announcements Not yet confirmed.
Revenue, profit or loss, and shipments (MW); amounts raised and investors; headcount; whether, when and at what investment the GW-scale line started; production volumes and customer names for four-terminal tandems (the TBC tandem partner is described only as "a domestic energy company"); and product prices.
8. What the company is aiming for in perovskite solar cells
This section goes beyond what the company says directly. It sets out inferences that can be drawn from primary sources, each with its basis.
| What can be read | Primary evidence behind it | Category |
|---|---|---|
| It partners with silicon majors as "a component that sits on top" | Four-terminal tandems have been developed in combination with DAS Solar's TOPCon bottom cells and another company's TBC cells. The company says making the two cells separately "avoids problems of process compatibility and current matching" | Inference |
| Its customers are mainly large state-owned energy companies | Supplies to China Three Gorges Renewables, China Huaneng and the national demonstration platform in Daqing. The December 2025 article says it supplies "customers represented by large central and state-owned enterprises" | Sourced |
| A strategy of building evidence that its modules sell through demonstration data | It publishes one demonstration plant after another across climate zones, including Hainan (a demonstration commissioned from CQC), Qinghai, Songyang and Daqing, and puts demonstration data front and centre when explaining its overseas orders | Inference |
| It is securing first-mover status through standard-setting | Drafting of the national standard, participation in IEC TC82 WG2, and "world-first" certification of a tandem to the full IEC sequences | Inference |
Describing the four-terminal tandem that made the National Energy Administration's first-of-its-kind equipment list, the August 2025 article says that "a semi-transparent perovskite top cell and an ordinary silicon bottom cell are joined by physical lamination; because the two are made separately, there is no electrical connection between them. This avoids performance losses from problems of process compatibility and current matching, and may allow it to lead in industrialisation" Sourced. This is the opposite choice to the monolithic two-terminal designs that LONGi and JinkoSolar are researching. Two-terminal designs have the advantage in theoretical efficiency, but they require perovskite films to be deposited inside a silicon factory. With four terminals, Microquanta can make the top cell as an extension of its own single-junction line, while the silicon side can use existing makers' products as they are. This article reads the company as seeking, through this division of labour, a position from which it can partner with the silicon majors without competing with them Not yet confirmed. The extra wiring and the additional set of glass and encapsulant are likely to add cost and weight to the module, however, and the primary sources do not show the economics.
9. Map of perovskite partnerships
10. Technology, products and services
| Product or technology | What the primary sources say |
|---|---|
| α² module (single-junction) | 125 W, certified by VDE (2025). Supplied in large numbers to the 5 MW Golmud project and others. The Hainan demonstration (commissioned from CQC) used 49 modules of 110 W |
| 2.88 m² module (single-junction) | 2400 mm × 1200 mm, 509.21 W, 18.60% efficiency (TÜV SÜD). Products above 2.8 m² are certified to IEC 61215, 61730 and 61701 (salt mist resistance) |
| Four-terminal tandem | A semi-transparent perovskite top cell laminated onto a silicon bottom cell (TOPCon or TBC). Certified to the full IEC 61215 and 61730 sequences; 130 to 170 W; best efficiency 26.49% |
| Coloured and see-through products | "Coloured modules" and "see-through modules" appear in the product list on the official website (aimed at buildings) |
| Manufacturing technology | Large-area crystallisation using the 3D laminar air-flow field (LAD) (said to cut residual solvent by 90%), and passivation of surface defects with the "frozen crystal" technique (cryogenic laser repair) |
In a coated perovskite film, if the solvent leaves at different speeds in different places, the crystals do not come out uniform in size or orientation, and efficiency and durability vary with them. Spin coating in the laboratory can make small substrates uniform, but it cannot be used on substrates larger than a square metre. Microquanta's 3D laminar air-flow field (LAD) is described as using fixtures designed by theoretical calculation and made by 3D printing to send an even airflow across a large area, combining the aerodynamic strengths of spin coating and vacuum flash drying Sourced. The company says this technology cut residual solvent in the film by 90% and fundamentally solved its low-yield problem.
From the materials side, this is an approach that designs the drying environment rather than changing the ink formulation. In the coating industry it is well known that the airflow volume and direction in a drying oven directly determine film quality, and this is an example showing that the same factor governs yield in perovskites too. For the principles of solution coating, see also our explainer on solution-processed film deposition.
11. The risks this company carries
| Risk | Substance | Category |
|---|---|---|
| Finances out of view | Unlisted, with revenue, profit or loss, funds raised and headcount all undisclosed. Whether its funding is sustainable cannot be assessed from outside | Not yet confirmed |
| Unclear status of the GW-scale line | The company said it would start in March 2025, but no later announcement of operation can be found. Articles from the second half of 2025 still refer to the "100 MW-class line" | Sourced |
| Production modules less efficient than silicon | The 2.88 m² module is rated at 18.60%. The company promotes advantages in low light and temperature behaviour with demonstration data, but its rated efficiency falls short of mass-produced silicon | Sourced |
| Customer concentration | The main customers are large state-owned energy companies and a national demonstration platform, and many projects are for demonstration purposes | Inference |
| Economics of four-terminal tandems | The primary sources do not show the cost of a structure that adds glass, encapsulant and wiring | Inference |
| Market share claims without a stated basis | Figures such as "52.2% of the global market" come with no basis of calculation | Sourced |
12. Glossary
- Single-junction
- A solar cell with a single perovskite light-absorbing layer. Microquanta's α, α² and 2.88 m² products are of this type.
- Four-terminal (4T) tandem
- A tandem in which the upper and lower cells are made separately and stacked while remaining electrically independent. The currents of the two cells do not need to be matched.
- TBC
- A back-contact silicon cell that uses TOPCon-type passivating contacts.
- 3D laminar air-flow field (LAD)
- Microquanta's technique of sending an even airflow over a large-area coated film so that drying and crystallisation proceed uniformly.
- Stabilised efficiency
- The steady value reached after operating at the maximum power point for a set time. It tends to be lower than an instantaneous measurement.
- First-of-its-kind major technical equipment
- A Chinese scheme, run by the National Energy Administration among others, that recognises important equipment put into practical use for the first time in China.
- Vanguard and Leading Goose + X
- A priority R&D programme of the Zhejiang Provincial Department of Science and Technology.
- IEC 61215 / 61730
- International standards for the reliability (61215) and safety (61730) of photovoltaic modules.
13. References
- Microquanta Official website (company introduction "About Microquanta", news centre, and source of the logo image) (in Chinese). Founding in 2015, first volume production, and grid connection of its main power plants. https://www.microquanta.com/
- Microquanta (official WeChat account) "On the list for the 16th time! Microquanta holds on to the world efficiency record for small perovskite modules" (in Chinese; 4 June 2026). Full-area stabilised efficiency of 23.9% on 19.48 cm², and IEC certification of products above 2.8 m². https://mp.weixin.qq.com/s/dnwIslm8Sf5X4I64ZrDu2g
- Microquanta (official WeChat account) "World's largest! TÜV SÜD certified! Microquanta's 2.88 m² full-size perovskite module" (in Chinese; 3 November 2025). 509.21 W and 18.60%, and comparison with the 0.79 m² product. https://mp.weixin.qq.com/s/nWE0gh30mlavtRUNiOIF_Q
- Microquanta (official WeChat account) "World first! Microquanta perovskite tandem module passes the full IEC 61215 & IEC 61730 stability certification sequences" (in Chinese; 22 January 2026). TÜV SÜD and the Hejin laboratory, 130 to 170 W, best 26.49%, and demonstrations in various regions. https://mp.weixin.qq.com/s/MsQb6p7AGO4DKNJcX5X5tg
- Microquanta (official WeChat account) "Jointly setting a new efficiency high for commercial square-metre-scale perovskite/TBC tandem modules" (in Chinese; 31 December 2025). 26.49% (TÜV SÜD, 11 November 2025), the four-terminal structure, shipment from Quzhou and grid connection in Daqing. https://mp.weixin.qq.com/s/R_vKJVhxa3ApNSLt_B0frg
- Microquanta (official WeChat account) "Equipment co-developed by Microquanta named in the fifth batch of first-of-its-kind major technical equipment in the energy sector" (in Chinese; 21 August 2025). Structure of the four-terminal tandem, co-developers, the 100 MW-class four-terminal line, shipment to the 50 MW Yicheng project, and the 500 kW demonstration. https://mp.weixin.qq.com/s/rYLYU5Aa1dr6ja9NT2rPBA
- Microquanta (official WeChat account) "Fifteen in a row, galloping ahead! Microquanta to drive large-scale commercialisation of perovskite tandems through 'stability-efficiency synergy'" (in Chinese; 1 February 2026). 23.9%, four-terminal tandem shipments in 2024, the 500 kW plant, and the 2026 policy. https://mp.weixin.qq.com/s/Mh31EZq3CNA1Q_994mfM3A
- Microquanta (official WeChat account) "A Chinese company publishes a research paper in Science as sole first-author institution for the first time" (in Chinese; 23 May 2025). Co-founding in 2015, the 3D laminar air-flow field technology, the legal entity name, and the market share estimate (not used in this article). https://mp.weixin.qq.com/s/GQq9rYwOI-2a2O2HKNAoKQ
- Microquanta (official WeChat account) "Microquanta named a national-level specialised and innovative 'little giant' enterprise" (in Chinese; 9 December 2025). The 100 MW line, 98.5% yield, customer base, and the market share claim (not used in this article). https://mp.weixin.qq.com/s/UvThAReHvwhtOKwtDRksiQ
- Microquanta (official WeChat account) "810 cm²! Microquanta sets a new efficiency record for large-area perovskite modules" (in Chinese; 7 February 2025). 21.86% (National Photovoltaic Industry Metrology and Testing Center), the frozen crystal technique, the GW-scale line due to start in March, and targets for the 2.88 m² module. https://mp.weixin.qq.com/s/B8IkZOCzXn5Zd4VP6XWiBA
- Microquanta (official WeChat account) "Microquanta perovskite modules certified in succession, with conversion efficiency above 24%" (in Chinese; 11 March 2025). 24.12% and stabilised 23.93% on 19.48 cm², and 21.5% on 766 cm². https://mp.weixin.qq.com/s/BVoqW0CyKSWudUUewXvPTQ
- Microquanta (official WeChat account) "Microquanta powers China Huaneng's world-first 5 MW commercial-scale perovskite PV demonstration base" (in Chinese; 5 September 2025). α² at 125 W (VDE), 98.5% yield, and more than three years of continuous line operation. https://mp.weixin.qq.com/s/Ophctj4ZHSM6skWGhBE4nA
- Microquanta (official WeChat account) "Microquanta's 5 MW perovskite project in Golmud, Qinghai, connected to the grid" (in Chinese; 28 February 2026). Cooperation with China Three Gorges Renewables and grid connection in December 2025. https://mp.weixin.qq.com/s/ABtywOxn8OPtNBJsY0gNyg
- Microquanta (official WeChat account) "8.6 MW perovskite power plant completes a year of operation" (in Chinese; 28 February 2026). The 8.6 MW Songyang plant (grid-connected November 2024), the Quzhou rooftop plant, and demonstrations elsewhere. https://mp.weixin.qq.com/s/AmdyakC_Prg44dtOKnfPFg
- Microquanta (official WeChat account) "The confidence behind Microquanta's overseas orders worth tens of millions of yuan" (in Chinese; 31 July 2026). Overseas sales, markets entered, and the Hainan demonstration (commissioned from CQC). https://mp.weixin.qq.com/s/gWg-5XTAdj6zdeOzMkjABQ
- Microquanta (official WeChat account) "Microquanta technology selected among the major scientific and technological advances in photovoltaics for 2025" (in Chinese; 26 August 2026). The 3D laminar air-flow field technology developed with Zhejiang University, a 90% cut in residual solvent, and more than 30 MW of plants in total. https://mp.weixin.qq.com/s/oiRcdzqcAJktXH-EOWWQeQ
- Microquanta (official WeChat account) "A Microquanta project selected for Zhejiang Province's 'Vanguard and Leading Goose + X' science and technology programme" (in Chinese; 3 December 2024). Development of stability-efficiency synergy technology and equipment for GW-scale production, led by the Quzhou site. https://mp.weixin.qq.com/s?__biz=MzI4NzkzMjczOQ==&mid=2247495098&idx=2&sn=dbdeae058ded41ceddba220dcac71a60&chksm=ebc48596dcb30c8033b4c7a878737360e2bf5bca8e1602f8a5fd307e5aec646391c3cfc5ee04
- Microquanta (official WeChat account) "First national standard for perovskite photovoltaics published, with Microquanta among the drafters" (in Chinese; 20 September 2026). GB/T 6495.12—2026, in force from 1 March 2027. https://mp.weixin.qq.com/s/23xCWH1fwrXe46BD8dFG4w
- Microquanta (official WeChat account) "Tandem modules ship again! Microquanta supports phase four of the national PV and energy storage demonstration and testing platform (Daqing base)" (in Chinese; 12 December 2025). The first volume shipment in November 2024, and research with the China Three Gorges Corporation Science and Technology Research Institute. https://mp.weixin.qq.com/s/hHlTHYmT9F3ABicHbkfWSw
- NLR (U.S. national laboratory, formerly NREL) Champion Module Efficiencies chart. Microquanta as a past record holder in the perovskite single-junction series, and the holders of the latest record of 22.1%. https://www.nlr.gov/docs/libraries/pv/champion-module-chart.pdf
14. Claim-to-source audit
| Claim in the article | Category | Source |
|---|---|---|
| Founded in 2015, the volume production record, grid connection of the distributed rooftop (2022), ground-mounted plant (2023) and tandem plant (2025), and the product list (including coloured and see-through modules) | Sourced | Reference 1 https://www.microquanta.com/ |
| Legal entity name, co-founding in 2015 by Yao Jizhong and Yan Buyi, the Science paper on the 3D laminar air-flow field, and the contribution of Zhejiang Sci-Tech University | Sourced | Reference 8 https://mp.weixin.qq.com/s/GQq9rYwOI-2a2O2HKNAoKQ |
| Full-area stabilised efficiency of 23.9% on 19.48 cm² and its inclusion in the efficiency tables (as described by the company), and IEC certification of products above 2.8 m² | Sourced | References 2 and 7 https://mp.weixin.qq.com/s/dnwIslm8Sf5X4I64ZrDu2g |
| 2.88 m² module at 509.21 W and 18.60% (TÜV SÜD) | Sourced | Reference 3 https://mp.weixin.qq.com/s/nWE0gh30mlavtRUNiOIF_Q |
| Certification of the tandem to the full IEC 61215 and 61730 sequences (22 January 2026, 130 to 170 W, best 26.49%) | Sourced | Reference 4 https://mp.weixin.qq.com/s/MsQb6p7AGO4DKNJcX5X5tg |
| Square-metre-scale perovskite/TBC four-terminal tandem at 26.49%, the partner described as "a domestic energy company", and grid connection in Daqing | Sourced | Reference 5 https://mp.weixin.qq.com/s/R_vKJVhxa3ApNSLt_B0frg |
| Explanation of the four-terminal structure and its advantages, co-developers, the 100 MW-class four-terminal line, the first-of-its-kind equipment listing, shipment to the 50 MW Yicheng project, and the 500 kW demonstration | Sourced | Reference 6 https://mp.weixin.qq.com/s/rYLYU5Aa1dr6ja9NT2rPBA |
| The 2026 policy (concentrating on tandems and moving to large-scale commercialisation) | Sourced | Reference 7 https://mp.weixin.qq.com/s/Mh31EZq3CNA1Q_994mfM3A |
| The 100 MW line, 98.5% yield, customers centred on large state-owned enterprises, and "little giant" status | Sourced | Reference 9 https://mp.weixin.qq.com/s/UvThAReHvwhtOKwtDRksiQ |
| 21.86% on 810 cm², the frozen crystal technique, the GW-scale line due to start in March 2025, and targets for the 2.88 m² module (above 20%, 25 years) | Sourced | Reference 10 https://mp.weixin.qq.com/s/B8IkZOCzXn5Zd4VP6XWiBA |
| 24.12% and 23.93% on 19.48 cm², 21.5% on 766 cm², and 23.65% on 6 cm square | Sourced | Reference 11 https://mp.weixin.qq.com/s/BVoqW0CyKSWudUUewXvPTQ |
| Supply to China Huaneng's 5 MW demonstration base, α² at 125 W (VDE), and more than three years of continuous line operation | Sourced | Reference 12 https://mp.weixin.qq.com/s/Ophctj4ZHSM6skWGhBE4nA |
| The 5 MW Golmud project (China Three Gorges Renewables, grid-connected December 2025, more than 50,000 modules shipped) | Sourced | Reference 13 https://mp.weixin.qq.com/s/ABtywOxn8OPtNBJsY0gNyg |
| The 8.6 MW Songyang plant (November 2024), the Quzhou rooftop plant, and the Kubuqi ground-mounted plant | Sourced | Reference 14 https://mp.weixin.qq.com/s/AmdyakC_Prg44dtOKnfPFg |
| Overseas sales in the tens of millions of yuan, markets entered, and the Hainan demonstration (commissioned from CQC, 49 modules of 110 W) | Sourced | Reference 15 https://mp.weixin.qq.com/s/gWg-5XTAdj6zdeOzMkjABQ |
| The 3D laminar air-flow field technology with Zhejiang University, a 90% cut in residual solvent, and more than 30 MW of plants in total | Sourced | Reference 16 https://mp.weixin.qq.com/s/oiRcdzqcAJktXH-EOWWQeQ |
| Selection for Zhejiang Province's "Vanguard and Leading Goose + X" science and technology programme | Sourced | Reference 17 https://mp.weixin.qq.com/s?__biz=MzI4NzkzMjczOQ==&mid=2247495098&idx=2&sn=dbdeae058ded41ceddba220dcac71a60&chksm=ebc48596dcb30c8033b4c7a878737360e2bf5bca8e1602f8a5fd307e5aec646391c3cfc5ee04 |
| Participation in drafting national standard GB/T 6495.12—2026 | Sourced | Reference 18 https://mp.weixin.qq.com/s/23xCWH1fwrXe46BD8dFG4w |
| Tandem shipments to the national demonstration platform in Daqing, the first volume shipment in November 2024, and research with the China Three Gorges Corporation Science and Technology Research Institute | Sourced | Reference 19 https://mp.weixin.qq.com/s/hHlTHYmT9F3ABicHbkfWSw |
| Microquanta appears in the perovskite single-junction series of NLR's chart, and the latest 22.1% record is held by Renshine Solar and Nanjing University | Sourced | Reference 20 https://www.nlr.gov/docs/libraries/pv/champion-module-chart.pdf |
| The three types of perovskite solar cell company | Our calculation | Our own classification. Companies shown are examples from those covered in this series |
| The area of 2.88 m² is about 1,500 times that of 19.48 cm² | Our calculation | Our own rough calculation: 28,800 cm² ÷ 19.48 cm² |
| Not using "52.2% of the global market" or "a share above 50%" | Not yet confirmed | References 8 and 9 give no basis of calculation. Not used under this article's policy https://mp.weixin.qq.com/s/GQq9rYwOI-2a2O2HKNAoKQ |
| Revenue, profit or loss, shipments, funds raised, investors, headcount, operation of the GW-scale line, tandem production volumes and customers, product prices, and an official English legal name | Not yet confirmed | Not in references 1 to 19. Press figures are not used https://www.microquanta.com/ |
| Confirmation of 23.9% in the efficiency tables themselves | Not yet confirmed | This article has not checked the tables themselves. Treated as the company's description https://mp.weixin.qq.com/s/dnwIslm8Sf5X4I64ZrDu2g |
| The reading that it partners with silicon majors as "a component that sits on top", seeking a position from which it can partner without competing | Inference | This article's interpretation of the four-terminal explanation in references 5 and 6 |
| The reading of a strategy of building evidence through demonstration data | Inference | This article's interpretation of how references 13 to 15 are built |
| The reading that it is securing first-mover status through standard-setting | Inference | This article's interpretation of references 4 and 18 |
| The risks of customer concentration and the economics of four-terminal tandems | Inference | This article's interpretation of references 6, 9 and 12 |
Last updated 25 September 2026 / Troy Technical
Every figure in this article comes from Microquanta's official website, articles on the company's official account linked from the website's news centre, and material published by NLR (formerly NREL). Because the company is unlisted and makes no statutory disclosures, company announcements and third-party efficiency tables are shown separately. No research-firm estimates, press-based figures or market shares without a stated basis have been used. Passages marked "Inference" are this article's interpretation of primary sources, not statements made by the company.