COMPANY PROFILE / PEROVSKITE SOLAR CELLS
UtmoLight
A specialist born in the Great Wall group, making 2.81 m² single-junction modules on "the world's first GW-scale line" and selling the equipment too
UtmoLight is a perovskite solar specialist that grew out of Great Wall Holding Group, the business group best known for the carmaker Great Wall Motor. It began research in 2018 and became independent in 2020. In Wuxi, Jiangsu Province, it announced that it had started "the world's first GW-scale perovskite module production line" on 5 February 2025, and its mainstay is the 2.81 m² single-junction module made on that line (490 W, 17.44% efficiency, passed IEC tests certified by TÜV). The company says an NREL-certified 18.1% on a 0.72 m² module has been included in the efficiency tables. What sets it apart from other specialists is that it also lists turnkey supply of manufacturing equipment and production lines among its businesses.
- UtmoLight 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 sites)
- 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. UtmoLight in 30 seconds, and where it stands in perovskite solar cells
(born in a business group)Deals only in perovskite photovoltaic and optoelectronic products
plus a 150 MW pilot lineAbout 1.8 million modules a year at full output, according to the company
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. UtmoLight is a perovskite start-up, but its origins lie in Great Wall Holding Group, a business group centred on cars Sourced. Rather than tandems with silicon, the company concentrates on mass-producing large-area single-junction modules on glass substrates, and its mainstay product measures 2.81 m², close to the size of large silicon modules. It also offers production lines for sale, built around film-deposition and other equipment it has developed itself, giving it a dual identity as both a product maker and an equipment maker.
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/utmolight_logo.png (the original is large, at 8859 × 3760 pixels, so it has been reduced to 800 pixels wide with the aspect ratio preserved).
A note on names: the legal entity is a limited company registered under a Chinese name, and the lettering in the logo reads UtmoLight. An official English legal name could not be found in the primary sources checked for this article. This article uses the brand name, UtmoLight, throughout. Great Wall Holding Group is named in the company profile as the company's origin, but its current shareholding is not stated on the official website.
Official site: http://utmolight.com/20493/3. Where the company sits in the perovskite solar cell field
The product format is the single-junction module on a glass substrate Sourced. It comes in two sizes, 0.72 m² (about 1.2 m × 0.6 m) and 2.81 m², and in June 2026 the company launched a high-strength 2.81 m² product, "Chuangshi S2-Xuanjia", which uses 3.2 mm tempered glass. It also makes BIPV (building-integrated photovoltaic) products. There is, however, no announcement of a product using a tandem with silicon or an all-perovskite tandem. Flexible perovskites are at the stage of being named as a research topic for "innovation consortia" in Jiangsu Province and the city of Wuxi in 2026.
4. Scale (unlisted, so read the lines and sites)
UtmoLight 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, sites and investment plans that the company has announced.
| Item | What the company has published | As of |
|---|---|---|
| R&D centre | 4,500 m². Research on cells and modules, quantum dots and optical films, and raw-material synthesis | In use from December 2020 |
| 150 MW pilot line | "The largest 150 MW pilot line at the time". Produces 0.72 m² modules and BIPV products | Running from December 2022 |
| Industrial base in Xishan, Wuxi | Total investment of CNY 3 billion on 156 mu (a Chinese unit of land area). Plans for GW-scale module and BIPV lines, a 100-tonne quantum dot line and a global headquarters. Expected annual output value of CNY 2.5 billion once fully complete | Agreement signed August 2022 (plan) |
| GW-scale production line | Described by the company as "the world's first". About 1.8 million modules a year at full output. The 2025 production target was 20% efficiency | First module November 2024; running from 5 February 2025 |
| Rooftop plant on its own site | 6.7 MW at the Wanshan Lake park (about 15,000 of the 2.81 m² modules). Described by the company as "the largest single commercial rooftop" | Grid-connected 31 July 2026 |
| Patents | About 750 core patent applications, including 488 invention patents | September 2026 |
| Revenue, profit or loss, headcount, funds raised, shipments | Not disclosed | – |
The company says the GW-scale line will produce about 1.8 million modules a year at full output Sourced. At the 490 W of the 2.81 m² module that comes to about 0.88 GW, and at the 450 W of the first module off the line, about 0.81 GW Our calculation. "GW-scale" is therefore best read as a capacity of roughly 1 GW. The individual projects announced, by contrast, are in the range of a few MW to 20 MW, such as the 6.7 MW rooftop on its own site and the 19 MW agreement with China Construction Fourth Engineering Division, and actual shipments relative to the line's capacity have not been published.
5. Resources committed to perovskites
| Type of resource | What it is | Category |
|---|---|---|
| People | Co-founder and president Yu Zhenrui, co-founder and executive president Zheng Ce, and CTO Shao Jun. Professor M.K. Nazeeruddin (formerly of EPFL, the Swiss Federal Institute of Technology in Lausanne, and a member of the European Academy of Sciences) has been recruited full time as chief scientist. More than 55% of the research team hold master's or doctoral degrees. Headcount not disclosed | Sourced (headcount not disclosed) |
| Money (the factory) | Total investment of CNY 3 billion in the Wuxi industrial base (planned amount, 2022). Actual investment not disclosed | Sourced (planned amount) |
| Money (research and fundraising) | Neither disclosed | Not disclosed |
| Universities and research institutes | Set up an "international joint perovskite laboratory" with the University of New South Wales (UNSW) in January 2026, with the Wuxi Industrial Innovation Research Institute also party to the agreement. A 30 cm × 30 cm module was co-developed | Sourced |
| Public frameworks | Leads a Jiangsu Province innovation consortium (large-area, high-efficiency flexible perovskite cells and equipment; 2026; the only one in the province's photovoltaic field) and an ecosystem-type innovation consortium in Wuxi. Also selected for a mission-type innovation consortium in Wuxi in 2024. A national-level "little giant" enterprise. No funding amounts are disclosed | Sourced (amounts not disclosed) |
| 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
| When | What happened | Area and certification |
|---|---|---|
| 2018 | Perovskite research begins under Great Wall Holding Group | Company profile |
| 2020 | Becomes independent and starts serving the industry as a whole. R&D centre opens in December | Company profile and company announcement |
| August 2022 | Agreement for a global headquarters and industrial base in Xishan, Wuxi (total investment CNY 3 billion) | Company-reported |
| December 2022 | 150 MW pilot line starts running | Company-reported |
| No date given | The 0.72 m² module obtains IEC 61215/61730 and CQC certification, which the company describes as "the industry's first TÜV certificate" | Company profile |
| 5 November 2024 | First module from the GW-scale line: 2.8 m², 450 W, 16.1% full-area efficiency | Company-reported |
| 5 February 2025 | GW-scale production line starts running | Company-reported |
| January 2025 | 1 MW of 0.72 m² modules supplied to phase three of the national PV and energy storage demonstration and testing platform in Daqing | Company-reported |
| 2025 | NREL-certified 18.1% on a 0.72 m² module included in Versions 66 and 67 of the efficiency tables. 18.1% on 7,200 cm² (= 0.72 m²; this appears to be the same module result) listed in the "2025 table of China's highest solar cell efficiencies" | NREL (as described by the company) |
| 2025 | The 2.81 m² module passes IEC tests certified by TÜV (490 W, 17.44%) | Company-reported |
| January 2026 | Wins a tender for 1 MW of 2.81 m² modules for phase four of the Daqing platform. International joint laboratory with UNSW | Company-reported |
| June 2026 | Launches the high-strength "Chuangshi S2-Xuanjia" at SNEC. 19 MW agreement with China Construction Fourth Engineering Division, and contracts to install modules at demonstration bases run by CTC and CPVT | Company-reported |
| July 2026 | Strategic cooperation with Huadian Sichuan (Neijiang power plant), where an earlier 108 kW rooftop plant has run for 15 months. Its own 6.7 MW rooftop is connected to the grid | Company-reported |
| 20 August 2026 | Strategic cooperation with State Grid Jibei. Outdoor demonstrations in multiple settings, including vertical installation, with CTC | Company-reported |
| September 2026 | Stabilised efficiency of 23.5% on a 30 cm × 30 cm single-junction module co-developed with UNSW. Selected for a Jiangsu Province innovation consortium | National Photovoltaic Industry Metrology and Testing Center (company-reported) |
In the "perovskite single-junction" series of NLR's (formerly NREL's) champion module efficiency chart, UtmoLight's name appears as a past record holder Sourced. When this article checked, the latest record in that series (22.1%) was held by Renshine Solar and Nanjing University. The 23.5% figure is for a 30 cm × 30 cm (900 cm²) research module, about 31 times smaller in area than the 2.81 m² production module (17.44%) Our calculation. The company says 23.5% "exceeds the world record in Version 68 of the efficiency tables by 0.6 percentage points", but its inclusion in the tables has not yet been announced Not yet confirmed.
7. What comes next
Announcing 23.5% in September 2026, the company said it would "transfer this technology and process to larger module sizes to further improve the efficiency and stability of commercial modules" Sourced. For the 2.81 m² product, the June 2026 launch stressed a tempered-glass design that withstands a front load of 5,400 Pa, putting strength, safety and fitness for the setting, rather than efficiency, at the front of its value proposition.
None of the following appears in UtmoLight's official announcements Not yet confirmed.
Revenue, profit or loss, and shipments; amounts raised and investors, and Great Wall Holding Group's current stake; headcount; the GW-scale line's utilisation and actual investment; whether production efficiency has reached 20%; product prices; and orders won by the equipment business.
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 aims for a product that can sell on the same terms (size, strength, certification) as large silicon modules | The 2.81 m² module as mainstay, 5,400 Pa with 3.2 mm tempered glass, and certifications including IEC 61215/61730/61701, CCC and cTÜVus | Inference |
| It is building a second revenue stream from selling equipment and lines | It develops its own deposition equipment and offers turnkey projects from technology route design to operation and maintenance. Its contact details list "equipment business" separately | Inference |
| For now it concentrates on single-junction modules and stays out of tandems | No tandem product or record appears in its official announcements. Its research topics are large-area single-junction and flexible modules | Inference |
| Its customers are mainly state-owned power and construction companies and demonstration platforms | China Construction Fourth Engineering Division (19 MW), SPIC's Daqing platform, Huadian Sichuan, State Grid Jibei, and CTC and CPVT demonstration bases | Sourced |
| It is strengthening its research with leading researchers and universities abroad | Full-time recruitment of Professor Nazeeruddin, and the international joint laboratory with UNSW | Inference |
In a September 2025 announcement, UtmoLight said it had "achieved major breakthroughs in the core processes of large-area perovskite module manufacturing" and had "built a full-value-chain solution covering technology route design, equipment selection, process introduction and operation and maintenance, providing turnkey projects for complete perovskite lines to customers worldwide" Sourced. The specific equipment named is a new damage-free vacuum deposition tool for the electron transport layer and a new flash-drying tool to control crystallisation of the film. In perovskite mass production, the equipment itself embodies the process know-how. This article reads UtmoLight as preparing a way to earn revenue without waiting for the module market to take off: not only making and selling its own modules, but selling the processes honed on its own line to other companies, equipment and all Not yet confirmed. No orders for the equipment business have been published, however, and this remains our interpretation.
9. Map of perovskite partnerships
10. Technology, products and services
| Product or technology | What the primary sources say |
|---|---|
| 0.72 m² module (single-junction) | NREL-certified 18.1% (included in Versions 66 and 67 of the efficiency tables, according to the company). IEC 61215/61730 and CQC certification. Supplied to the Daqing platform, Huadian's Neijiang plant and others |
| 2.81 m² module (single-junction) | The mainstay of the GW-scale line. 490 W and 17.44% (IEC tests certified by TÜV). IEC 61215/61730/61701, CCC, cTÜVus and EU RoHS |
| Chuangshi S2-Xuanjia | 2.81 m². A high-strength product using 3.2 mm tempered glass, which the company says withstands a front load of 5,400 Pa (June 2026) |
| BIPV products | Commercialised since the days of the 150 MW pilot line. The company says the GW-scale line will also produce large-area BIPV products |
| Equipment and lines | A new damage-free vacuum deposition tool (for the electron transport layer) and a new flash-drying tool (to control crystallisation). Turnkey projects for complete lines |
| Mass-production technology framework | The "Jichuang+" integrated solution for mass-production technology, and a "three-in-one" (later also written "four-in-one") stability verification system |
A single-junction perovskite module is made by depositing the electrode, transport layers and perovskite layer in turn on glass, then using lasers to divide them into long, narrow cells connected in series. The larger the area, the more a single defect anywhere in the film drags down the output of the whole module, so the central task of mass production is to go on from 16.1% on the first module and 17.44% at 2.81 m², closing the gap with the 23.5% research module (900 cm²) Our calculation. UtmoLight's in-house development of deposition and drying equipment can be read as a way of building that uniformity into the equipment itself.
The other issue is glass. Because of the heat treatments involved in film deposition, thin-film solar modules often use glass that has not been tempered. At 2.81 m², strength becomes a problem in resisting wind, snow and hail loads, and that is the point of the company's claim to "the industry's first and only high-strength perovskite module with tempered glass" Sourced. For the principles of encapsulation, see our explainer on encapsulation and barrier layers.
11. The risks this company carries
| Risk | Substance | Category |
|---|---|---|
| Finances out of view | Unlisted, with revenue, profit or loss, funds raised, headcount and investors all undisclosed | Not yet confirmed |
| Production module efficiency | The 2.81 m² module is rated at 17.44%, below mass-produced silicon (in the 20s). No announcement has been made that the 2025 target of 20% was reached | Sourced |
| Unknown line utilisation | Against a capacity of about 1.8 million modules a year (equivalent to about 0.8 to 0.9 GW), shipments are not disclosed. Announced projects range from a few MW to 20 MW | Sourced (the conversion is Our calculation) |
| Concentration on single-junction | With no tandem product announced, its efficiency ceiling is limited to that of single-junction cells | Inference |
| Equipment sales competing with its own products | Selling equipment and lines also means helping to create competing module makers | Inference |
| Accuracy of figures in announcements | In the 6.7 MW rooftop announcement, the annual generation figure is inconsistent with the stated savings in coal and CO₂ (this article does not use those savings) | Sourced |
12. Glossary
- Single-junction
- A solar cell with a single perovskite light-absorbing layer. All of UtmoLight's products are of this type.
- Full-area efficiency
- Efficiency calculated over the module's entire outline, including non-generating edges, so it is lower than efficiency over the active area.
- Stabilised efficiency (MPPT)
- A steady value measured over a set time while tracking the maximum power point. More reliable than an instantaneous measurement.
- Flash drying
- A step in which the pressure over a freshly coated film is suddenly reduced so the solvent leaves all at once, making crystallisation uniform.
- Turnkey project
- An arrangement in which one contractor handles everything from design and equipment selection to start-up, handing over a plant ready to run.
- Innovation consortium
- A framework recognised by Chinese provinces and cities in which a company leads joint technology development with universities, research institutes and the supply chain.
- IEC 61701
- The international standard for salt mist corrosion testing of photovoltaic modules.
- BIPV
- Building-integrated photovoltaics: roofing or facade materials that themselves generate electricity.
13. References
- UtmoLight Company profile page, "Company profile" (in Chinese). Origin in Great Wall Holding Group, research from 2018 and independence in 2020, the chief scientist, the 4,500 m² R&D centre, patents, IEC and CQC certification of the 0.72 m² module, the 150 MW line, and the first module from the GW-scale line. http://utmolight.com/20493/
- UtmoLight News, "A great start to the year! The world's first GW-scale perovskite module production line enters volume production" (in Chinese; February 2025). Start of operation on 5 February, about 1.8 million modules a year, the first module on 5 November 2024, the 2025 efficiency target of 20%, and the company's history. http://www.utmolight.com/20492/144517.html
- UtmoLight News, "Total investment of CNY 3 billion! UtmoLight's perovskite industrial base project settles in Xishan" (in Chinese; August 2022). What the base will contain, expected annual output value, and remarks by the chairman. http://www.utmolight.com/20492/127845.html
- UtmoLight News, "23.5%! UtmoLight and the University of New South Wales set a new world record for single-junction perovskite module efficiency" (in Chinese; September 2026). 23.5% on 30 cm × 30 cm (National Photovoltaic Industry Metrology and Testing Center), about 750 patents, and IEC certification of the 2.81 m² module. http://www.utmolight.com/20492/155294.html
- UtmoLight News, "Full speed on deliveries! UtmoLight's global perovskite module deliveries steadily accelerate" (in Chinese; September 2026). Deliveries across China and to Japan and Singapore, and its first overseas shipment in 2024. http://www.utmolight.com/20492/155292.html
- UtmoLight News, "Top again! UtmoLight perovskite modules listed again in Martin Green's 'Solar cell efficiency tables'" (in Chinese; February 2026). NREL-certified 18.1% on 0.72 m², Versions 66 and 67, and markets served. http://www.utmolight.com/20492/152830.html
- UtmoLight News, "Still leading in efficiency for 7,200 cm² perovskite modules!" (in Chinese; August 2025). 18.1% on 7,200 cm², and 490 W and 17.44% on 2.81 m² (IEC tests certified by TÜV). http://www.utmolight.com/20492/150805.html
- UtmoLight News, "Building an industrial innovation hub together: UtmoLight and the University of New South Wales, Sydney, set up an international joint perovskite laboratory" (in Chinese; January 2026). Parties to the agreement, the chief scientist's background, and the management team. http://www.utmolight.com/20492/152708.html
- UtmoLight News, "Global launch of UtmoLight's new Chuangshi series" (in Chinese; June 2026). Chuangshi S2-Xuanjia (2.81 m², 3.2 mm tempered glass, 5,400 Pa). http://www.utmolight.com/20492/154867.html
- UtmoLight News, "World's largest single perovskite module project signed!" (in Chinese; June 2026). The 19 MW agreement with China Construction Fourth Engineering Division, contracts to install at CTC and CPVT demonstration bases, and a certificate for one year of stable operation. http://www.utmolight.com/20492/154869.html
- UtmoLight News, "UtmoLight wins SPIC's 1 MW perovskite module project at the Daqing demonstration base" (in Chinese; January 2026). 1 MW of 2.81 m² modules for phase four, 1 MW of 0.72 m² modules for phase three (January 2025), and certifications. http://www.utmolight.com/20492/152720.html
- UtmoLight News, "Largest single project! UtmoLight's 6.7 MW perovskite distributed rooftop PV project connected to the grid" (in Chinese; August 2026). Grid connection on 31 July 2026, about 15,000 modules. http://www.utmolight.com/20492/155119.html
- UtmoLight News, "Strength joins strength! UtmoLight and Huadian sign another major perovskite partnership" (in Chinese; July 2026). The agreement with Huadian Sichuan's Neijiang power plant, and 15 months of operation of the 108 kW rooftop plant. http://www.utmolight.com/20492/155009.html
- UtmoLight News, "New ground in field testing! UtmoLight signs another major perovskite partnership with State Grid Jibei and CTC" (in Chinese; August 2026). The agreement of 20 August, more than 200 days of operation of 2.81 m² modules at the national wind, solar, storage and transmission demonstration base in Zhangjiakou, and demonstrations in multiple settings including vertical installation. http://www.utmolight.com/20492/155121.html
- UtmoLight News, "Leading the high-end perovskite equipment market, UtmoLight drives the global energy transition with its smart-manufacturing engine" (in Chinese; September 2025). The damage-free vacuum deposition tool, the flash-drying tool, and turnkey projects for complete lines. http://www.utmolight.com/20492/151396.html
- UtmoLight News, "The only one in the province! UtmoLight-led project named on Jiangsu's list of proposed innovation consortia" (in Chinese; September 2026). The innovation consortium on large-area, high-efficiency flexible cells and equipment. http://www.utmolight.com/20492/155311.html
- UtmoLight News, "Pushing along the chain! UtmoLight-led ecosystem innovation consortium for large-area flexible perovskites approved" (in Chinese; September 2026). Selection for a mission-type innovation consortium in 2024. http://www.utmolight.com/20492/155293.html
- NLR (U.S. national laboratory, formerly NREL) Champion Module Efficiencies chart. UtmoLight 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 |
|---|---|---|
| Legal entity, location, origin in Great Wall Holding Group, research from 2018 and independence in 2020, the chief scientist, the R&D centre, more than 55% with master's or doctoral degrees, IEC and CQC certification of the 0.72 m² module, and "little giant" status | Sourced | Reference 1 http://utmolight.com/20493/ |
| Start of the GW-scale line (5 February 2025), about 1.8 million modules a year, first module at 450 W and 16.1%, the 2025 target of 20%, the 150 MW pilot line (December 2022), and the R&D centre (December 2020) | Sourced | Reference 2 http://www.utmolight.com/20492/144517.html |
| The Wuxi industrial base (total investment CNY 3 billion, 156 mu, planned contents, expected annual output value of CNY 2.5 billion) | Sourced | Reference 3 http://www.utmolight.com/20492/127845.html |
| 23.5% on 30 cm × 30 cm (with UNSW; National Photovoltaic Industry Metrology and Testing Center), the plan to transfer it to larger sizes, and about 750 patents including 488 invention patents | Sourced | Reference 4 http://www.utmolight.com/20492/155294.html |
| Deliveries across China and to Japan and Singapore, and the first overseas shipment in 2024 | Sourced | Reference 5 http://www.utmolight.com/20492/155292.html |
| NREL-certified 18.1% on 0.72 m² and inclusion in Versions 66 and 67 of the efficiency tables (as described by the company) | Sourced | Reference 6 http://www.utmolight.com/20492/152830.html |
| 18.1% on 7,200 cm², and 490 W and 17.44% on 2.81 m² | Sourced | Reference 7 http://www.utmolight.com/20492/150805.html |
| The international joint laboratory with UNSW (January 2026) and the names of the management team | Sourced | Reference 8 http://www.utmolight.com/20492/152708.html |
| Chuangshi S2-Xuanjia (3.2 mm tempered glass, 5,400 Pa) | Sourced | Reference 9 http://www.utmolight.com/20492/154867.html |
| The 19 MW agreement with China Construction Fourth Engineering Division, and demonstration base contracts with CTC and CPVT | Sourced | Reference 10 http://www.utmolight.com/20492/154869.html |
| Supply to phases three and four of the Daqing platform, and certifications | Sourced | Reference 11 http://www.utmolight.com/20492/152720.html |
| The 6.7 MW rooftop on its own site (31 July 2026, about 15,000 modules) | Sourced | Reference 12 http://www.utmolight.com/20492/155119.html |
| Strategic cooperation with Huadian Sichuan and operation of the 108 kW plant | Sourced | Reference 13 http://www.utmolight.com/20492/155009.html |
| Cooperation with State Grid Jibei and CTC (20 August 2026), operation of 2.81 m² modules in Zhangjiakou, and demonstrations in multiple settings | Sourced | Reference 14 http://www.utmolight.com/20492/155121.html |
| The equipment business (damage-free vacuum deposition tool, flash-drying tool, turnkey projects for complete lines) | Sourced | Reference 15 http://www.utmolight.com/20492/151396.html |
| Selection for a Jiangsu Province innovation consortium (flexible) | Sourced | Reference 16 http://www.utmolight.com/20492/155311.html |
| The Wuxi ecosystem-type innovation consortium, and the mission-type innovation consortium in 2024 | Sourced | Reference 17 http://www.utmolight.com/20492/155293.html |
| UtmoLight 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 18 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 |
| About 1.8 million modules a year equals about 0.81 to 0.88 GW, and the area ratio of 2.81 m² to 900 cm² is about 31 times | Our calculation | Our own conversion of the figures in references 2, 4 and 7 |
| Revenue, profit or loss, shipments, funds raised, investors, Great Wall Holding Group's stake, headcount, utilisation, actual investment, whether 20% was reached, product prices, and equipment orders | Not yet confirmed | Not in references 1 to 17. Press figures are not used http://utmolight.com/20493/ |
| Inclusion of 23.5% in the efficiency tables | Not yet confirmed | Reference 4 says only that it exceeds the record in Version 68. Inclusion not yet announced http://www.utmolight.com/20492/155294.html |
| Not using the coal and CO₂ savings in the 6.7 MW announcement | Not yet confirmed | The annual generation and the savings in reference 12 are inconsistent, so this article has chosen not to use them http://www.utmolight.com/20492/155119.html |
| The reading that it aims for a product that can sell on the same terms as large silicon modules | Inference | This article's interpretation of references 7, 9 and 11 |
| The reading that it is building a second revenue stream from equipment and line sales | Inference | This article's interpretation of references 1 and 15 |
| The reading that for now it concentrates on single-junction modules | Inference | This article's interpretation of the absence of any tandem product in references 1 to 17 |
| The reading that it is strengthening research through researchers and universities abroad | Inference | This article's interpretation of references 1 and 8 |
| The risks of concentrating on single-junction modules and of equipment sales competing with its own products | Inference | This article's interpretation of references 1 and 15 |
Last updated 25 September 2026 / Troy Technical
Every figure in this article comes from UtmoLight's official website (company profile and 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 or press-based figures have been used. Passages marked "Inference" are this article's interpretation of primary sources, not statements made by the company.