Flexell Space
Flexell Space is a South Korean manufacturer of CIGS/Perovskite tandem solar cells for space applications, supplying lightweight, flexible, and cost-efficient cells to satellite OEMs and aerospace primes including Hanwha Systems, Kongsberg NanoAvionics, and Airbus.
- Company typePrivate
- Founded2024
- HeadquartersUiwang, South Korea
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Flexell Space does
Flexell Space Co., Ltd. is a South Korean developer and manufacturer of CIGS/Perovskite tandem solar cells purpose-built for space applications. The company designs space-grade tandem cells on both rigid glass and flexible polyimide substrates, achieving 28-30% efficiency comparable to conventional III-V cells while claiming 60%+ cost savings and over 90% weight reduction through thin-film engineering. Its product portfolio spans plug-and-play rigid cells for direct drop-in replacement, flexible thin-film cells for curved surfaces and weight-sensitive platforms, and large-area deployable array modules (up to 20x20 cm cells) for high-power missions. Flexell operates a 15MW pilot manufacturing facility in Gyeonggi-do and offers a secondary product line of mobility, CPV, and BIPV cells for terrestrial markets.
The company sells primarily through B2B enterprise channels to satellite manufacturers, defense and government space programs, and aerospace primes. Hardware sales dominate, supplemented by technology licensing — notably a 5.5 billion KRW technology transfer with the Korea Institute of Energy Research (KIER). Commercial traction is anchored by a multi-million euro contract with Kongsberg NanoAvionics to supply kilowatt-class deployable solar arrays for South Korea's sovereign K-LEO national security constellation, complemented by MOUs with Airbus, Terran Orbital, Reflex Aerospace, Dcubed, NPC Spacemind, D-Orbit, and DHV Technology. Originating as a Hanwha Systems in-house venture in 2023 and formally spun off in September 2024, Flexell leverages deep research ties — including CTO Dr. Shinyoung Noh's UNSW training under Prof. Martin Green — and Korean government deeptech support (TIPS, DIPS, KASA awards) to position itself as a cost-disruptive alternative in the projected $1.38B-to-$2.43B space solar cell market.
Flexell Space firmographics
Firmographics- Name
- Flexell Space
- Legal name
- FLEXELL SPACE Co., Ltd.
- Website
- https://flexellspace.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Flexell Space is a South Korean manufacturer of CIGS/Perovskite tandem solar cells for space applications, supplying lightweight, flexible, and cost-efficient cells to satellite OEMs and aerospace primes including Hanwha Systems, Kongsberg NanoAvionics, and Airbus.
- Ownership category
- akta.pro rank
Flexell Space industry classification
Industry- Product category
- Space Solar Cells
- NAICS
- Other Guided Missile and Space Vehicle Parts and Auxiliary Equipment Manufacturing (336419)
- SIC
- Guided Missiles & Space Vehicles & Parts (3760)
- akta.pro primary industry
- Space Power Systems (Solar Arrays, Batteries, EPS) (IMABACAH)
- akta.pro secondary industry
- Next-Gen Photovoltaics R&D (Perovskite, Tandem, Organic, BIPV Materials) (EUAMAOAA)
Keywords
Where Flexell Space is headquartered
LocationHeadquarters
- HQ city
- Uiwang
- HQ country
- South Korea
- HQ region
- Asia
Offices3 records
Markets served
Flexell Space business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Infrastructure, Personnel, Operations
Revenue model
- Solar Cell/Array Hardware Sales: Direct sales of CIGS/Perovskite solar cells and deployable solar arrays to satellite manufacturers and space companies. Multi-million euro contracts with Kongsberg NanoAvionics for Korean national security satellites.
- Technology Licensing: Licensing of solar cell technology to partners. Technology transfer agreement with Korea Institute of Energy Research (KIER) valued at 5.5 billion KRW.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Custom solar cell modules based on customer specifications |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Flexell Space product offering
Product offeringCore offering
Flexell Space manufactures CIGS/Perovskite tandem solar cells on flexible thin-film polyimide substrates for space applications. Its product portfolio includes rigid plug-and-play cells, flexible cells for curved surfaces, and large-area deployable solar array modules. Products are sold directly to satellite manufacturers, aerospace primes, and space exploration programs.
Product overview
Flexell Space develops and manufactures CIGS/Perovskite tandem solar cells for space applications, offering a product portfolio of flexible, rigid, and deployable solar cell solutions. The product line includes Plug & Play cells on glass substrates for immediate replacement of conventional space solar cells, flexible polyimide-based cells for curved surfaces and weight-critical applications, and large-area deployable array modules for high-power missions. The company targets satellite manufacturers, space exploration programs, and emerging markets including mobility, CPV, and building-integrated photovoltaics. Key differentiators include 60% cost reduction versus conventional space solar cells, 28-30% efficiency with self-healing and radiation-resistant properties, and over 90% weight reduction through flexible thin-film technology.
Differentiator
Problem solved
Functional benefit
Products and services
- CIGS/Perovskite Tandem Solar Cells (Plug & Play) Space-grade tandem solar cells using CIGS and Perovskite technology on rigid glass substrate with plug-and-play functionality, designed as drop-in replacement for conventional III-V space solar cells in low-vibration satellite applications.
- CIGS/Perovskite Tandem Solar Cells (Flexible)
Quantifiable outcome
- 60% or more cost savings compared to conventional space solar cells
- +5 more outcomes
Companies that use Flexell Space
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Flexell Space technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Flexell Space partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, major and minor.
- Kongsberg NanoAvionicscoreMulti-million euro contract for supply of kilowatt-class deployable solar arrays for South Korea's K-LEO national security constellation. NanoAvionics designs and manufactures solar arrays while Flexell conducts final quality inspection and acceptance testing. Partnership includes exploration of integrating Flexell's CIGS and perovskite solar cells into NanoAvionics' CubeSat and microsatellite platforms.
- DcubedmajorMOU for strengthening solar array collaboration between EU and Asia. Joint development of next-generation solar array solutions.
- NPC SpacemindmajorMOU signed at International Astronautical Congress 2025 in Sydney to jointly develop next-generation solar arrays for small satellites and spacecraft. Combines Flexell Space's ultralight, highly efficient solar cell technology with Spacemind's solar panel design and engineering capabilities.
- D-OrbitmajorMOU for space validation and product supply. Italian company specializing in orbital transportation and space logistics.
- AirbuscorePartnership for developing next-generation space solar cells. Airbus collaboration for advanced solar cell technology integration.
- Terran OrbitalmajorMOU for satellite solar cell supply and validation. US-based satellite manufacturer.
- Inha UniversityminorMOU for validation of world's first flexible tandem solar cell in space using Nuri rocket 4th launch payload.
- Reflex AerospaceminorMOU for next-generation satellite solar cell supply. German satellite company.
- Korea Institute of Energy Research (KIER)coreJoint development of ultra-light flexible CIGS solar cells for space use. Technology transfer agreement signed August 2025 valued at 5.5 billion KRW.
Scale indicators8 records
Recent moves8 records
Expansion highlights6 records
Flexell Space competitors and assessment
Company assessmentBroad incumbents
- Spectrolab: Spectrolab (a Boeing subsidiary) is the dominant supplier of III-V multi-junction space solar cells with decades of flight heritage. It is the primary incumbent Flexell is positioning to displace with CIGS/Perovskite tandem technology for cost-sensitive satellite programs.
- Sharp Corporation (Space Solar): Sharp has a legacy in space solar cell R&D (silicon and III-V cells) and operates broadly across display and energy electronics. As a broad incumbent with space solar heritage, it is comparable to Flexell's silicon/CIGS-based thin-film solar cell R&D for space.
- SolAero (Rocket Lab): SolAero, acquired by Rocket Lab, produces high-efficiency space solar cells and panels (Z4J, IMM4J) widely used on U.S. and allied satellites. It is a key incumbent competitor whose qualified product line Flexell's tandem technology must displace on cost and weight.
- Mitsubishi Electric (Space Solar Cells): Mitsubishi Electric manufactures space-grade silicon and compound solar cells as part of its broader satellite systems business. It represents a larger, vertically integrated incumbent competing in the same end market with overlapping solar cell product lines.
Direct peers
- MicroLink Devices: MicroLink Devices specializes in flexible, lightweight solar cells and blankets for aerospace and space applications using epitaxial lift-off and thin-film processes. It is one of the closest direct comparables to Flexell's flexible polyimide CIGS/perovskite platform for satellite power.
- Azur Space Solar Power: Azur Space manufactures III-V multi-junction space solar cells and is one of Europe's leading suppliers to satellite primes. As a direct competitor in the same space solar cell category, Azur represents the kind of qualified incumbent Flexell must win design slots against for European and global satellite programs.
- DHV Technology: DHV Technology (Spain) designs and manufactures solar arrays and panels for small satellites and CubeSats. It is a direct peer in deployable space solar arrays and is also an active partner/competitor of Flexell in European and global CubeSat supply.
- CESI (Italian Space Solar Cells): CESI produces triple-junction gallium-arsenide space solar cells at its Milan facility, serving ESA and European satellite primes. It is a like-for-like European competitor to Flexell for supplying space-grade solar cells to satellite integrators.
Emerging players
- Caelux (First Solar): Caelux, a First Solar subsidiary, develops perovskite tandem technology for terrestrial PV using similar thin-film tandem science to Flexell's CIGS/Perovskite stack. It represents an emerging thin-film tandem peer whose roadmap informs the broader perovskite commercialization curve relevant to space.
- Oxford PV: Oxford PV is a UK-based leader in perovskite-on-silicon tandem solar cell technology, primarily focused on terrestrial applications. It is comparable as an emerging perovskite tandem player whose IP and process know-how shape the broader perovskite competitive landscape relevant to Flexell's CIGS/Perovskite tandem.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Flexell Space social profiles
Digital presenceFlexell Space compliance and trust
Trust signalCompliance3 records
Flexell Space financial estimates
Financial estimateRevenue estimate
Valuation estimate
Flexell Space leadership team
Management profileNumber of profiles
Profiles7 records
Flexell Space funding detail
Funding detailFunding overview
Funding rounds5 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Flexell Space M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Flexell Space
What does Flexell Space do?
Flexell Space manufactures CIGS/Perovskite tandem solar cells on flexible thin-film polyimide substrates for space applications. Its product portfolio includes rigid plug-and-play cells, flexible cells for curved surfaces, and large-area deployable solar array modules. Products are sold directly to satellite manufacturers, aerospace primes, and space exploration programs.
Is Flexell Space a public or private company?
Flexell Space is a private company. It is classified as venture growth investor backed and is currently operating.
When was Flexell Space founded?
Flexell Space was founded in 2024. It employs 1 to 10 people.
Where is Flexell Space based?
Flexell Space is headquartered in Uiwang, South Korea, in the Asia region.
How does Flexell Space make money?
Two revenue lines are on record. Solar Cell/Array Hardware Sales are the primary driver. The others are technology Licensing.
Who are Flexell Space's main competitors?
Broad incumbents on record are Spectrolab, Sharp Corporation (Space Solar), SolAero (Rocket Lab) and Mitsubishi Electric (Space Solar Cells). Direct peers are MicroLink Devices, Azur Space Solar Power, DHV Technology and CESI (Italian Space Solar Cells). Emerging players are Caelux (First Solar) and Oxford PV.
Does Flexell Space have an API?
No public API is recorded for Flexell Space.
What industry is Flexell Space in?
Flexell Space's product category is Space Solar Cells. Its primary akta.pro industry code is IMABACAH, Space Power Systems (Solar Arrays, Batteries, EPS), with a secondary code of EUAMAOAA, Next-Gen Photovoltaics R&D (Perovskite, Tandem, Organic, BIPV Materials). Its NAICS code is 336419 and its SIC code is 3760.