PXP

What PXP does

PXP Corporation (株式会社PXP) is a Japanese green-technology startup founded in July 2020 and headquartered in Sagamihara City, Kanagawa Prefecture, that develops next-generation flexible thin-film solar cells. Its core technology is a perovskite/chalcopyrite (CIGS) tandem architecture deposited on a metal foil substrate, combining a perovskite top cell (optimized for visible light) with a chalcopyrite bottom cell (optimized for infrared light) to achieve 26.5% conversion efficiency in laboratory settings against a 30%+ target. The resulting modules are ultra-thin (0.4 mm), ultra-lightweight (under 1 kg/m² — roughly one-tenth the weight of conventional glass panels), flexible, shatterproof, and installable on curved surfaces, vehicle bodies, low-load-bearing roofs, and road infrastructure where conventional silicon panels cannot be used.

PXP's product portfolio consists of unit flexible solar cells (250 g/m², 0.05 mm thick) and assembled flexible solar panels (800 g/m² with encapsulation, 0.4 mm thick) with built-in bypass diodes for partial-shade tolerance, plus application-specific solutions such as solar-assisted refrigeration systems for refrigerated logistics vehicles. The company operates a pilot production line that reached full operation in January 2024 and began construction of a dedicated ~25 MW chalcopyrite mass-production plant in June 2026. Revenue streams span hardware sales, technology licensing and technical support, and joint-development/R&D services — predominantly delivered through enterprise field sales and OEM/embedded partnerships rather than direct consumer channels.

PXP serves four primary use-case segments: E-Mobility and Automotive (Vehicle-Integrated Photovoltaics for cars, refrigerated trucks, buses, and drones — Toyota Tsusho, Nissan, Topre, Kanagawa Chuo Kotsu); Building-Integrated Photovoltaics for low-load-bearing roofs (Tokyo Gas, JGC, Tokyu Land); IoT and off-grid/disaster-relief applications (EV Genesis); and Space/Aerospace (HAPS, satellites — SoftBank, JAXA). The company is backed by SoftBank Corp. (29.9% equity holder, lead Series A investor) alongside Toyota Tsusho, Mitsubishi HC Capital, Tokyo Century, Nagoya Electric Works, Solable, Kowa Optronics, and ShinMaywa Industries, and operates within Kanagawa Prefecture's Next-Generation Solar Cell Promotion Project framework.

Name

PXP

Legal name

株式会社PXP

Website

https://pxpco.jp

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

PXP Corporation is a Japanese green-tech startup developing ultra-lightweight, flexible perovskite/chalcopyrite tandem solar cells on metal foil for enterprise applications in vehicle-integrated photovoltaics, low-load-bearing building rooftops, road infrastructure, logistics, and space — currently scaling from pilot line to a 25 MW mass-production plant.

Ownership category

akta.pro rank

Product category

Flexible Thin-Film Solar Cells

NAICS

Flat Glass Manufacturing (327211), Current-Carrying Wiring Device Manufacturing (335931)

SIC

Optical Instruments & Lenses (3827), Industrial Instruments For Measurement, Display, And Control (3823)

akta.pro primary industry

Next-Gen Photovoltaics R&D (Perovskite, Tandem, Organic, BIPV Materials) (EUAMAOAA)

akta.pro secondary industries

Solar PV Module Manufacturing (Cells, Modules, Thin-Film) (EUAMABAD), Solar Plant Components Supply & Manufacturing (Modules, Cells, Wafers, Mirrors, Heliostats) (EUACAGAK), Space Power Systems (Solar Arrays, Batteries, EPS) (IMABACAH)

Keywords

• Flexible thin-film solar cells
• Perovskite tandem photovoltaics
• Chalcopyrite solar panels
• Vehicle-integrated photovoltaics
• Building-integrated solar modules

Headquarters

HQ city

Sagamihara

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Solar Panel Manufacturing and Sales: PXP manufactures and sells flexible perovskite/chalcopyrite solar cells and panels. The company operates a pilot production line and is building a dedicated factory with annual capacity of approximately 25 MW. Revenue comes from product sales to enterprise customers including automotive manufacturers, logistics companies, and building operators.
2. Technology Licensing and Technical Support: PXP provides manufacturing technology licensing and technical support for its next-generation photoelectric conversion devices. This includes process technology, production equipment specifications, and technical consulting services for partners seeking to implement PXP's solar cell technology.
3. Joint Development and R&D Services: PXP collaborates with partners on joint development projects funded by government subsidies and corporate R&D budgets. Examples include demonstration projects with Kanagawa Prefecture, Toyota Tsusho, and Tokyo Gas, where PXP provides technology development services.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

PXP develops and manufactures ultra-lightweight, flexible thin-film solar cells and panels based on a perovskite/chalcopyrite tandem architecture deposited on titanium foil substrate. The company's products enable photovoltaic integration on curved surfaces, vehicle bodies, low-load-bearing roofs, and infrastructure that cannot accommodate conventional rigid glass panels. PXP also designs application-specific solar solutions such as low-temperature logistics power systems for refrigerated vehicles.

Product overview

PXP offers a portfolio of lightweight, flexible thin-film solar products based on perovskite and chalcopyrite tandem technology. The core offerings include flexible solar cells (unit cells at 250g/m² and 0.05mm thickness) and assembled flexible solar panels (800g/m² with 0.4mm thickness). These products combine perovskite and chalcopyrite materials in tandem configurations to achieve conversion efficiencies exceeding 30%, approximately 1.5 times conventional solar cells. Applications span mobility (vehicles, drones, satellites), building integration, IoT devices, and electrified areas. The company also develops application-specific solutions such as low-temperature logistics solar systems for refrigerated vehicles.

Differentiator

Problem solved

Functional benefit

Products and services

• Flexible Solar Cell (フレキシブルソーラーセル) Ultra-thin flexible solar cell unit weighing 250g per square meter at 0.05mm thickness (thinner than a human hair), made with metal foil substrate for impact and vibration resistance. Sold to enterprise integrators and OEM partners building vehicle-, building-, and infrastructure-integrated photovoltaic systems.
• Flexible Solar Panel (フレキシブルソーラーパネル) Assembled flexible solar panel combining unit cells at 800g per square meter with encapsulation, measuring 0.4mm thick. Installable on curved surfaces, poles, and previously unsuitable locations; includes built-in bypass diodes for partial-shade tolerance and free-size configuration using 4cm wide unit cells. Targeted at building-integrated PV and OEM applications.
• Perovskite/Chalcopyrite Tandem Solar Cells Next-generation tandem solar cells layering perovskite and chalcopyrite/CIGS materials to absorb a broader solar spectrum than single-junction cells. Designed for lightweight, flexible applications on surfaces unsuitable for conventional panels, including mobility, building, IoT, and space use cases.
• Low-Temperature Logistics Solar System Solar-powered refrigeration system for logistics vehicles using PXP's chalcopyrite solar panels to assist vehicle refrigeration units. Reduces fuel consumption and greenhouse gas emissions in cold chain logistics, deployed on refrigerated trucks and route buses.

Quantifiable outcome

• Fuel reduction of several tens percent for refrigerated logistics vehicles when solar panels assist refrigeration
• +3 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core, flagship and minor.

• JFE Engineering CorporationcoreStrategic or Co-development Partner · 27 May 2026JFE Engineering, Tokyo Century, and Urban Energy launched a PPA project using PXP's chalcopyrite solar cells at the Myoko Clean Center in Niigata Prefecture.
• Tokyo Century CorporationcoreStrategic or Co-development Partner · 21 May 2026Tokyo Century signed a capital and business alliance agreement with PXP. The company, along with JFE Engineering and Urban Energy, launched a PPA (renewable energy power supply) project using PXP's chalcopyrite solar cells at the Myoko Clean Center in Niigata Prefecture.
• Nagoya Electric Works Co., Ltd.coreStrategic or Co-development Partner · 12 May 2026Nagoya Electric Works signed a capital and business alliance agreement with PXP. The company is conducting demonstration experiments with PXP's chalcopyrite solar cells for road facilities in Fukuoka Prefecture as part of the Fukuoka Prefecture Perovskite Solar Cell Demonstration Project.
• Kanagawa PrefectureflagshipStrategic or Co-development Partner · 26 January 2026Kanagawa Prefecture signed a partnership agreement with PXP to conduct Japan's first outdoor demonstration of flexible tandem solar cells combining perovskite and chalcopyrite technologies. Installations planned at three prefectural facilities from May to November 2026, targeting decarbonization.
• Topre CorporationcoreStrategic or Co-development Partner · 6 January 2026Joint development of low-temperature logistics vehicles equipped with PXP's chalcopyrite solar panels. The partnership, adopted as part of Kanagawa Prefecture's 2025 project toward carbon-free society by 2050, involves prototype refrigerated trucks with solar panels assisting refrigeration systems.
• Tohoku Electric PowerminorStrategic or Co-development Partner · 6 January 2026PXP and Tohoku Electric Power initiated driving tests for low-temperature logistics vehicles with next-generation solar panels in Sagamihara City, Kanagawa Prefecture, as part of the Kanagawa Prefecture project toward decarbonization by 2050.
• Kanagawa Chuo KotsucoreStrategic or Co-development Partner · 4 November 2025Toyota Tsusho, Kanagawa Chuo Kotsu, and PXP started demonstration tests on five route buses in Kanagawa, Japan, to evaluate fuel efficiency improvements using chalcopyrite solar cells, lasting until March 26, 2026.
• Central Japan Railway Company (JR Central)coreStrategic or Co-development Partner · 27 October 2025JR Central, PXP, JGC, and Sagamihara City are jointly conducting next-generation solar cell demonstration experiments at FUN+TECH LABO in Sagamihara City as part of Kanagawa Prefecture's Next-Generation Solar Cell Promotion Project.
• Nissan Motor Co., Ltd.coreStrategic or Co-development Partner · 18 July 2025Nissan was selected for a Next Generation Solar Cell Promotion Project by Kanagawa Prefecture, with PXP joining as a collaborator. Demonstration experiments of PXP's chalcopyrite solar cells at Nissan dealerships in Yokohama began in October 2025.
• Tokyo Gas Co., Ltd.coreStrategic or Co-development Partner · 1 July 2025Tokyo Gas and PXP are collaborating on a project to develop and deploy lightweight chalcopyrite solar cells on low load-bearing roofs, aiming for service launch in fiscal year 2026. Tokyo Gas provides proprietary adhesive methods for installation.
• JGC CorporationcoreStrategic or Co-development Partner · 15 May 2025JGC Corporation and PXP launched a one-year grid-connected trial of lightweight chalcopyrite solar panels on a building in Yokohama City, using PXP's flexible PV modules and JGC's novel sheet-based mounting system enabling one worker to install 100 square meters per day.
• EV Genesis Co., Ltd.coreStrategic or Co-development Partner · 1 October 2024EV Genesis is developing small electric vehicles designed for disaster situations equipped with PXP's perovskite solar panels. The vehicles can provide electricity to disaster-affected areas and serve in local logistics.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• SunPower Corporation: US-based solar technology company focused on high-efficiency residential and commercial solar including light-weight and shingled cell formats. Broad incumbent whose premium-efficiency positioning overlaps PXP's high-efficiency strategy.
• First Solar: US-based thin-film (CdTe) solar module manufacturer and global incumbent. Recently acquired Caelux to enter perovskite tandem, putting it in direct competition with PXP's tandem technology roadmap at utility scale.
• Hanwha Qcells: One of the largest global solar cell/module manufacturers with growing investment in tandem technology. Broad incumbent competing across multiple PV segments including future tandem architectures.

Emerging players

• Flisom AG: Swiss-based manufacturer of flexible CIGS thin-film solar modules on polymer foils. Niche competitor in the flexible, lightweight CIGS segment comparable to PXP's chalcopyrite flexible panels.
• Tandem PV: Netherlands-based emerging startup developing perovskite-silicon tandem solar technology. Early-stage emerging player in the same perovskite tandem category PXP is pursuing with chalcopyrite rather than silicon as the bottom cell.
• Caelux (First Solar subsidiary): Perovskite tandem solar technology startup acquired by First Solar. Direct emerging competitor in perovskite tandem technology space overlapping with PXP's Gen2 tandem roadmap.

Direct peers

• MiaSolé Hi-Tech: US-based flexible CIGS thin-film solar cell maker producing lightweight, flexible modules on flexible substrates. Directly comparable to PXP's chalcopyrite flexible PV technology and form factor.
• Solar Frontier: Japan-headquartered CIGS (chalcopyrite) thin-film solar cell manufacturer and PXP's most direct chalcopyrite technology peer, historically the largest CIGS producer globally and based in the same Japanese market.
• Oxford PV: UK/Germany-based leader in perovskite-silicon tandem solar cells. Direct competitor to PXP in the perovskite tandem category, both targeting >25% efficiency tandem architectures for next-generation photovoltaics.
• Kaneka Corporation: Japanese chemical and materials company producing flexible CIGS thin-film solar cells. Direct competitor in chalcopyrite-based flexible PV with overlapping applications in rooftops and curved surfaces.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/PXP_en
• LinkedInlinkedin.com/company/pxpco

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds5 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PXP