WAVELABS

What WAVELABS does

WAVELABS, headquartered in Leipzig, Germany, develops and manufactures LED-based solar simulators used to characterize and test photovoltaic cells and modules. Founded in 2011, the company pioneered the transition from xenon-flash to LED-based solar simulation and has built an installed base of more than 1,000 devices across 32+ countries, capturing approximately 30% of the global cell measurement systems market. The product portfolio spans the SINUS series (SINUS-70, SINUS-230 LIGHT, SINUS-360 PRO/ADVANCED, SINUS-430 ADVANCED, SINUS-1000 ADVANCED, and SINUS-3000 PRO/ADVANCED), covering R&D cells, mini-modules, and full-size modules, complemented by the Flashboard ML-based production analytics software and tailor-made custom solutions.

The business operates a direct B2B sales model targeting solar cell and module manufacturers, research institutions, and certification laboratories. Revenue is generated primarily through high-precision hardware sales with quote-based pricing, supplemented by service, calibration, and maintenance contracts on the installed base. Key enabling technologies include the patented RapidWAVE IV characterization method (enabling 30ms measurement of HJT, PERC+, and TOPCon cells), modular LED light engines with up to 27 individually controllable channels, and PTB-validated 0.9% measurement uncertainty. APAC coverage is delivered through regional channel partners in China (Suzhou JSUN), Korea (Woowon), Taiwan (Challentech), and SE Asia (Solsol Asia), with direct enterprise sales in Europe and the Americas.

In June 2025, the company's key assets were acquired by Dutch solar testing specialist Eternal Sun as part of a buy-and-build strategy enabled by Bolster Investment Partners' 80% acquisition of Eternal Sun. The combined entity operates as WAVELABS Eternal Sun GmbH, a 100% subsidiary of Eternal Sun Group B.V., serving manufacturers, laboratories, and developers across 60+ countries while maintaining WAVELABS and Eternal Sun as independent brands.

Name

WAVELABS

Legal name

WAVELABS Eternal Sun GmbH

Website

https://wavelabs.de

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

51–100 employees

Short description

WAVELABS develops LED-based solar simulators for testing photovoltaic cells and modules, serving solar cell manufacturers and research institutions worldwide. Now a subsidiary of Eternal Sun Group, it holds approximately 30% global market share in cell measurement systems with 1,000+ devices installed across 32+ countries.

Ownership category

akta.pro rank

Product category

Photovoltaic Metrology Equipment

NAICS

Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (334515)

SIC

Instruments For Meas & Testing Of Electricity & Elec Signals (3825), Measuring & Controlling Devices, Nec (3829)

akta.pro primary industry

Solar Design, Engineering & Performance Software (PV Modeling, Digital Twins, Monitoring) (EUAMABAH)

Keywords

• LED solar simulators
• Photovoltaic metrology
• Solar cell testing
• PV module characterization
• IV measurement systems

Headquarters

HQ city

Leipzig

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Supply Chain, Operations, Marketing or Sales

Revenue model

1. LED Solar Simulator Hardware Sales: Sale of LED-based solar simulators (SINUS product line) for R&D and production applications. Products include SINUS-70, 230, 360, 430, 1000, and 3000 series, with pricing varying by specifications and illuminated area. Revenue generated from equipment sales to solar cell and module manufacturers, research institutions, and certification laboratories.
2. Sales Revenue: Approximately 29 million euros in sales generated in 2021 by 90 employees, demonstrating commercial viability of solar metrology equipment business.
3. Service and Support: Service and support offerings including calibration, maintenance, and technical support for installed base of 1000+ devices worldwide.
4. Tailor-made Solutions: Custom-developed LED solutions according to customer specifications for specialized applications.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

WAVELABS develops and manufactures LED-based solar simulators under the SINUS product family for characterizing, testing, and quality-assuring photovoltaic cells and modules. The product line spans small-scale R&D units (e.g., SINUS-70) up to full-size module flashers (e.g., SINUS-3000) used in production lines and research laboratories, and is complemented by the Flashboard production-analytics software and tailor-made custom LED solutions.

Product overview

WAVELABS offers a comprehensive portfolio of LED-based solar simulators for solar cell and module testing, serving both R&D and production environments. The product lineup includes the SINUS series of solar simulators: SINUS-70 ADVANCED, SINUS-230 LIGHT, SINUS-360 ADVANCED/PRO, SINUS-430 ADVANCED, SINUS-1000 ADVANCED, and SINUS-3000 ADVANCED/PRO. The portfolio spans from small-scale R&D testers (70mm) to large module testers (up to 1.4m x 2.7m), addressing cell testing, mini-module characterization, and full-module production and research needs. Key enabling technologies include RapidWAVE for high-throughput IV characterization and Flashboard for AI-powered production data analytics. The company also provides tailor-made custom LED solutions.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Measurement uncertainty of 0.9% achieved by PTB using WAVELABS SINUS-3000 ADVANCED—the world's lowest known for silicon solar module power measurement
• +4 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature7 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Eternal SuncoreStrategic or Co-development Partner · 1 June 2025Eternal Sun, a Dutch provider of solar module testing solutions, acquired key assets of WAVELABS forming a new subsidiary WAVELABS Eternal Sun GmbH in Leipzig. The combined entity offers full spectrum of solar testing technology solutions from R&D to mass production.
• SunChineminorStrategic or Co-development Partner · 1 January 2023Eternal Sun acquired China-based SunChine which offers factory-inspection services, expanding capabilities in solar quality assurance.
• Spire Corporation (Solar Division)coreStrategic or Co-development Partner · 1 January 2016Eternal Sun acquired the testing division of Massachusetts-based Spire Corporation in 2016, successfully integrating and revitalizing the business for nearly a decade of sustained growth.
• University of KöthenminorStrategic or Co-development Partner · 1 January 2016Academic partner in ZIM cooperation project for development of bifacial solar simulator. Project ran from 2016 to 2019 with grant of 158,564 euros.
• Yeungnam University (South Korea)minorStrategic or Co-development Partner · 1 January 2016Academic partner in ZIM cooperation project for bifacial solar simulator development, providing real-life performance data.
• Suzhou JSUN Energy Technology Co., LtdcoreChannel Partner/ Reseller/ DistributorExclusive sales and service partner for China (Greater China region). Located in Suzhou SIP, Jiangsu Province, China. Contact: [email protected].
• Woowon Technology Co., LtdcoreChannel Partner/ Reseller/ DistributorSales and service partner for Korea. Located in Bundang-gu, Korea. Contact: [email protected].
• Challentech International Corp.coreChannel Partner/ Reseller/ DistributorSales and service partner for Taiwan. Located in Zhubei City, Hsinchu County, Taiwan.
• Solsol Asia Pte. Ltd.coreChannel Partner/ Reseller/ DistributorSales and service partner for Southeast Asia. Based in Singapore at Lorong Bakar Batu.
• SPOT ON e.V.minorStrategic or Co-development PartnerSolar Power Transformation Cluster co-founded by WAVELABS and several Eastern German PV stakeholders in Halle (Saale). Facilitates cooperation and networking among manufacturing businesses, service providers, and research institutes along the PV value chain.
• ISFH (Institute for Solar Energy Research Hamelin)minorStrategic or Co-development PartnerISFH operates prototype of SINUS-360 ADVANCED since 2022 for solar cell calibration research and has provided feedback for product development.
• Oxford PVminorStrategic or Co-development PartnerJoint development partner for SINUS-3000 ADVANCED specifically designed for perovskite-silicon tandem research. Oxford PV is a leader in commercial perovskite-silicon solar cell technology.
• Fraunhofer ISEminorStrategic or Co-development PartnerGermany's leading solar research institute collaborated on SINUS-3000 ADVANCED development. Fraunhofer ISE produced world's most efficient PST solar module using this equipment.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Eternal Sun: Dutch solar module testing equipment manufacturer and now parent company of WAVELABS. Eternal Sun offers large-area solar simulators for module-level characterization, complementing WAVELABS' cell-focused LED platform. Direct overlap in solar metrology, served by combined go-to-market post-2025 acquisition.
• H.A.L.M. elektronik: German manufacturer of solar cell flash testers and IV measurement systems for production and R&D. Direct competitor in cell/module IV characterization with similar target customers (cell/module manufacturers and research institutes). Both compete on throughput, accuracy, and spectral match to IEC standards.
• Sinton Instruments: US-based developer of lifetime and suns-VOC measurement instruments for silicon solar cell characterization, particularly for HJT, PERC, and TOPCon. Targets the same R&D and production metrology customers as WAVELABS and is a recognized competitor in cell measurement.
• PV Measurements (ReRa Solutions): US manufacturer of solar cell characterization equipment including QE/X measurements, solar simulators, and I-V systems. Directly comparable product portfolio for research-grade PV characterization, serving universities, national labs, and manufacturers.
• Abet Technologies: US manufacturer of solar simulators (AAA-class) and light sources for PV research and production. Competes with WAVELABS in solar simulation for cell and module testing, particularly in research-grade applications.
• ReRa Solutions: Dutch metrology company specializing in photoluminescence imaging and inline PV characterization tools. Adjacent competitor in solar cell/module measurement with focus on contactless inspection for production.

Broad incumbents

• Newport Corporation / MKS Instruments: Large diversified photonics and optics company offering Oriel solar simulators and related light sources as part of a broader portfolio spanning lasers, optics, and motion control. Serves similar R&D customers but does not specialize in PV cell/module production testing.

Emerging players

• Greateyes: German manufacturer of scientific cameras and imaging systems used in PV characterization (EL/PL imaging). Partial overlap with WAVELABS' tandem EL/PL imaging capability, focused on enabling components rather than full simulator systems.
• SPECTRAFY: Canadian developer of solar spectral irradiance measurement instruments (SunSim / HyperFlash) used for PV characterization and resource assessment. Emerging player with partial overlap in spectral measurement for solar cell characterization workflows.

Regional players

• Allreal (Suzhou) PV-Tech: China-based PV testing and metrology equipment supplier serving Greater China manufacturers. Regional competitor to WAVELABS' LED simulator portfolio with focus on Chinese cell/module fabs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/wavelabs_solar

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

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 WAVELABS