ZURICH, Nov. 18, 2024 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced it has signed a Memorandum of Understanding (MOU) with U.K.-based technology pioneers, Power Roll Limited. Amcor and Power Roll's collaboration aims to revolutionize solar-powered energy by developing a lightweight solar photovoltaic film that can deliver a low-cost alternative to silicon solar panels.

Power Roll's film material provides a lightweight and flexible solution that can be used on a variety of applications from fragile rooftops, facades, off-grid local generation and within the transport sector. Importantly, Power Roll's technology is not reliant on rare earth minerals and can be manufactured using roll-to-roll processes.

Amcor is already active in the solar photovoltaic market, utilizing its advanced barrier technologies and roll-to-roll manufacturing processes. Through this collaboration, Amcor aims to strengthen its presence in this rapidly growing sector, further exploring opportunities to produce and market components for photovoltaic film solutions.

Frank Lehmann, vice president of Corporate Venturing and Open Innovation at Amcor, said: "The innovative solar film technology developed by Power Roll has the potential to revolutionize the solar energy industry, providing ultra-low-cost green electricity on a global scale. Through its partnership with Amcor, we are confident that Power Roll will continue to contribute significantly to the global transition towards net zero."

Neil Spann, chief executive of Power Roll, said, "We are delighted by the support we have received from Amcor, which will allow us to accelerate our growth and expand our impact. With one in three commercial rooftops unable to handle the weight of traditional solar panels,  equivalent to 12 billion m² globally, our mission is to lead a global rooftop solar revolution, starting here in County Durham, U.K. The need for low-cost clean energy has never been greater and Power Roll offers a solution by leveraging these underutilized rooftops where conventional heavy and rigid silicon panels cannot be deployed as well as many other applications."

Amcor and Power Roll will hold further discussions on final terms and arrangements for Power Roll's ongoing funding round, which will be subject to respective internal approvals.

Amcor is engaged in multiple start-up investment and partnership opportunities, supporting their journeys through the sharing of expertise from Amcor's own research and development teams, and exploring the potential for joint undertakings. These innovative collaborations include strategic investments into ePac Flexible Packaging, PragmatIC Semiconductors, Pulpac's fiber technology and Licella's recycled content, as well as seed-funding for start-ups  – Nfinite Nanotechnology,  Bloom Biorenewables, circolution and Greyparrot – as part of the Amcor Lift-Off initiative, through which early-stage start-up companies can secure investment toward the development of innovative and sustainable technologies.

Learn more about Amcor's Lift-Off program and corporate venturing.

About Amcor

Amcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect products, differentiate brands, and improve supply chains. The Company offers a range of innovative, differentiating flexible and rigid packaging, specialty cartons, closures and services. The company is focused on making packaging that is increasingly recyclable, reusable, lighter weight and made using an increasing amount of recycled content. In fiscal year 2024, 41,000 Amcor people generated $13.6 billion in annual sales from operations that span 212 locations in 40 countries. NYSE: AMCR; ASX: AMC

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About Power Roll

Power Roll, headquartered near Seaham, County Durham, is a leading technology disrupter in the flexible PV market that has developed an innovative, lightweight solar power film for commercial and industrial buildings. In the UK, one third of commercial rooftops cannot handle the weight of traditional solar panels;  equivalent to 12 billion square meters globally. Power Roll's microgroove film provides a lightweight and flexible solution which is suitable for low-load bearing rooftops, building integration, transport, portable applications, off-grid  projects and more. With solar energy expected to be the world's largest source of power by 2050, providing 40% of the world's electricity, flexible PV can unlock £250 billion of an untapped market for commercial and industrial rooftops. To date, Power Roll has proven the technology and manufacturing process, 24 patent families with over 120 individual patented rights and established blue chip manufacturing partners, suppliers and potential customers.

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SOURCE Amcor