Exeger is a Swedish company with a unique solar cell technology that converts all forms of light into electrical energy. With its resilient and flexible design, the innovation, called Powerfoyle, can be seamlessly integrated into all products that benefit from being self-powered. Powerfoyle can enhance products with extended or even eternal battery life, putting the power of cutting-edge solar technology directly into the hands of consumers. By revolutionizing the perception of available energy, Exeger makes products both smarter and more sustainable – with the vision to touch the lives of a billion people by 2030.
Number of employees:
Documents & links
Exeger's scalable technology proven in multiple contracts worth over a billion SEK
In an article in Dagens Industri (DI) at the end of September 2022 it was announced that Exeger has closed two agreements in the multi-billion SEK class. The CEO and founder Giovanni Fili was interviewed:
"I can say that these are two of the world's largest companies in their industries," he says without wanting to go into details of the agreement. Fili says that the new agreements, when deliveries are fully scaled up, will mean "billions in turnover, annually, for several years to come''.
One of the big projects Fili talked about in an interview with DI in July was with remote control manufacturer Omni. The company annually produces around 80 million remote controls of 700 different models, including for TV boxes from AT&T, Sky and Telenor.
The size of the deal with Exeger has not been communicated, but according to Fili, it is about "several hundred million SEK" in revenue when production is in full swing.
“It is a breakthrough for our business. We have now presented the self-charging remote control and the next step is to adapt the concept to Omni's customers. It will take up to a year before the first products are on the shelves," says Giovanni Fili.
In the press release, the strategic importance of the project was explained - "In the past year, sustainability has been the single biggest focus for our customers, which represent some of the biggest brands in TV and broadcasting," said Jean-Paul Abrams, President of Global Sales, Omni Remotes. "In the Model P+, Omni and Exeger have created a greener blueprint for the next billion remotes."
"By integrating Powerfoyle, Omni Remotes and Exeger will reduce our products' carbon footprint and align with consumer values.” added Giovanni Fili, CEO of Exeger. "Together we set a new standard and lead the way towards a smart and more sustainable future."
Exponential revenue growth expected and IPO considerations in 2023
By delivering the mentioned contracts above, this will undoubtedly have enormous impact on future revenue, not to mention potential new contracts and application of the Powerfoyle technology to other products and projects.
Already in 2022, Exeger has slowly started to increase its sales, and their solar cell can be seen this year on several products, including a critically acclaimed headphone from Adidas.
Giovanni Fili explains that the increase in revenue will come next year (2023) and forward. "A small part of it will probably be counted home in 2023, but above all in 2024. There are long lead times. We need to start ordering machines to our factories now in order to get them delivered in time - and then fine-tune them - to be ready for large-scale production in 2023."
The company has also started planning for an IPO. "We want to be ready for a listing in the second quarter of 2023. I like having the option. There are advantages of being public, but it is not an end in itself that we will do an IPO. We will have the discussion when it suits us and then see if it is in the best interest for the company.” says Giovanni Fili.
Exeger has in total raised around SEK 1.7 billion in various rounds, from among others Softbank, Swedish pension giant AMF as well as Stena Sessan and Ilija Batljan. The company has already taken several steps in terms of increased transparency and reporting (financial reports, official board documents etc) towards becoming a publicly listed company.
“Private companies have huge potential upside. The challenge is that they are usually closed to investment. We created Tioex as a new way in.”
Founding Partner, CEO