The weather is hot.
So is Stockholm’s solar game.
Sunlight’s been flooding Sweden for weeks. Feels like the perfect time to talk about the team who built a solar cell factory from scratch, and made the world’s biggest brands follow his lead.
This week, we’re revisiting a loaded pod episode from earlier this season: a raw, detailed sit-down with Exeger founder Giovanni Fili. It’s about deeptech the hard way: No roadmap, no shortcuts — just grit, chemistry and global ambition.
Whether you're scaling tech or just love a good underdog story, this one’s worth your time. And if you're hiring (or looking), we’ve packed this issue with open roles from across the hardtech scene.
Nordic Hardtech Partners 🤝
Nordic Hardtech is a community for builders of complex tech companies based on physical products. Here are some of our outstanding partners.
- Lightbringer: AI-powered patent platform helping tech companies protect their edge fast, with in-house legal expertise. Missed our recent IP webinar? Watch the replay!
- Recuro: Growth partner for hardtech and deeptech. Strategy, marketing, and scalable business models that drive real traction. Book an intro.
- SISP (Swedish Incubators & Science Parks): The network for 60+ incubators and science parks in Sweden, powering innovation and scaleups across the country. Find yours here.
- The Yard: Gothenburg’s industrial-chic hub for startups. Co-working, community, and serious hardware energy. Explore their memberships.
Nordic Hardtech Podcast
This week: How Exeger built a solar cell platform from scratch.
Print, Charge, Scale – Then Go Again
"No one was waiting for this"
They said it couldn’t be done. Flexible solar had failed too many times. But Giovanni Fili built the tech, the machines, and a factory in Stockholm. Now the world’s biggest brands are embedding his solar cells – and doing it on his terms.
Back in 2009, Exeger was little more than a hunch. Giovanni Fili and his co-founder Henrik Lindström had seen a possible breakthrough in a fringe branch of solar technology. Others had already tried and failed. Intel had shut down its organic solar efforts. Materials degraded. Efficiency was low. Commercial production seemed impossible.
But Giovanni didn’t walk away. He went all in.
– We didn’t just invent a new solar cell. We had to invent the machines to make it. There was no blueprint, no supply chain, no real support. It was just us, Giovanni says.
The Exeger team redesigned the entire architecture of the so-called Grätzel cell, replacing the fragile components with new materials that didn’t exist yet – and couldn’t be bought. They had to be created in-house. By hand, at first.
Today, Exeger’s Powerfoyle solar cells convert any light – sunlight, artificial, even diffuse indoor light – into usable energy. Unlike traditional silicon, they work from any angle and aren’t sensitive to partial shading. There are no visible silver lines. And they look good enough to disappear into whatever surface they power.
It’s no longer a science project. Powerfoyle is now integrated into commercial products from brands like Philips and 3M. And it’s not stopping there.
That’s when their jaws drop.
– I’ve been in meetings with massive global brands. You hand them a headset and they ask, “Where’s the solar cell?” And you say, “You’re holding it.” Then you show them the data. That’s when their jaws drop, Giovanni says.
But Exeger didn’t just build a product, they built an industrial platform. The company now runs two solar cell factories in Stockholm. All material innovation, component production and assembly is done in-house. Every cell is tested, traceable, and protected by over 300 patents – with more on the way.
Exeger kept manufacturing in Sweden, not just out of pride, but because it made strategic sense.
– I’m an industrial romantic. But we also have the competence here. We know automation. We have the education system. We’ve proven you can build globally competitive production in Stockholm.
Building the tech was one thing. Getting it into the market was another. A new solar cell wasn’t on anyone’s roadmap. Customers didn’t have budget lines or integration plans. Exeger had to walk them through every step.
One champion isn’t enough.
– No one was waiting for this. So we had to do the customer’s job for them. We came in with prototypes, sourcing options, design support, even apps to show real-time charging. Everything had to work on day one.
One thing Giovanni learned quickly was that having just one stakeholder on the customer side wasn’t enough. If that person left, the project collapsed.
– You have to map the whole team from day one. Product, legal, design, mechanics, procurement. One champion isn’t enough.
For years, Exeger stayed afloat with help from industrial family offices, angel investors, and grants from agencies like Energimyndigheten (the Swedish Energy Agency) and Vinnova (Sweden’s innovation agency). It wasn’t until they had shipped products that larger investors joined.
– Deeptech wasn’t hot. Solar wasn’t sexy. We survived on stubbornness.
In 2018, the company brought in SoftBank, and later AMF, Stena, and Generali. But the heavy lifting had already been done. The factory was running, the tech was proven and the market was real.
Today, Exeger is expanding into IoT, smart home, and connected industrial products. From displays and remote controls to smart helmets and sensors, Powerfoyle is quietly reshaping how light is used as fuel.
And something has shifted.
– Now the big players are calling us. They’ve benchmarked the tech. They’ve done the math. They want in, syas Giovanni.
Still, he doesn’t see this as a moment to relax.
– Scaling deeptech isn’t the end. It’s just the beginning. We built the solar rebellion. Now we’re making it run.
Lately ⏮️
Selected news from the hardtech ecosystem
- The 2025 Deep Tech Hardware Napkin is out. Funding rounds are bigger, tech is earlier, and business co-founders are disappearing. Download the full report.
- Sweden’s Deepgrid just launched VBox™ Loadbanks for mFRR and industrial testing. Built for Nordic grids and CE-certified it's already generating 100%+ annual returns. Learn more.
- Hardware FYI just mapped the full landscape of new tools for physical product development — from early requirements to production ramp. See where the new players fit.
- Vector CEO Jonas Singer just dropped a 10-point reality check for VCs entering defense. If you think it’s SaaS with camo, think again. Read the full thread.
- A 15% tariff just hit most European exports to the US. Nordic hardtech is directly exposed — and it’s time to rethink where and how we scale. Read the full take by Jonas Åström.
Jonas Åström
Up next ⏭️
What's brewing in the community?
- Get inside Europe’s electronics engine: Join the Swedish delegation to EBSCON in Austria this October, and claim 10,000 SEK in travel support. Apply by Aug 15.
- Climentum Capital is hiring a partner to lead early-stage climate and hardtech investments. Germany or Scandinavia based. More info here.
- SeaTwirl is hiring engineers to help reshape offshore wind. If you want to work on next-gen floating turbines for deep waters, check the open roles.
- KTH Innovation is hiring a Business Development Coach in energy tech. Work hands-on with cutting-edge research and help build the next Blykalla. Apply by Aug 31.
Funding your build? This list gets you closer.
Few investors actually understand hardtech. We’ve listed the ones who do.
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