Three Organizations, Including Perovion, a Spin-Out Company of TNO, One of Europe’s Largest Research Institutes, Agree to Build a Collaborative Framework for the Global Deployment of Perovskite Solar Panels

May 15, 2026 - Toyo Seikan Group Holdings, Ltd. (“Toyo Seikan Group Holdings,” Tokyo 5901, President: Takuji Nakamura) has reached an agreement with Perovion Technologies B.V. (“Perovion,” Head Office: the Netherlands, CEO: Stefan van de Beek) and the Netherlands Organisation for Applied Scientific Research (“TNO”; Head Office: The Hague, South Holland, the Netherlands) to establish a strategic technological and business partnership with the aim of creating a global market for perovskite*1 flexible photovoltaic panels (“perovskite solar panels”).

Perovion, a spin-out company of TNO, is responsible for commercializing the perovskite solar cell*2 manufacturing technology developed by TNO. Toyo Seikan Group Holdings and its technology development partner TNO have been advancing the mass customization of integrated photovoltaic systems in Europe since 2025. These systems are centered on MiraNeo®, the Toyo Seikan Group Holdings brand of functional materials for electronic devices. Through the new three-way partnership, Toyo Seikan Group Holdings will further accelerate its business expansion in the perovskite solar panels field.

Background to the Partnership
In recent years, expectations for flexible photovoltaic panels that are lightweight, bendable, and customizable have been growing, driven by factors such as roof load limitations, increasingly diverse roof shapes, and rising demand for lightweight panels that are less likely to crack during disasters. Perovskite solar panels, in particular, have attracted global attention. Perovskite solar panels are a next-generation solar cell technology that is nearing commercial deployment following significant improvements in power conversion efficiency through recent technological advances.

Through the MiraNeo® brand, Toyo Seikan Group Holdings is aiming to expand into a range of next-generation devices while proactively advancing technology development and commercialization in the perovskite solar cell field, where strong global interest and market growth are anticipated. As part of these efforts, the company has been working with TNO since 2025 toward the mass production of next-generation flexible photovoltaic panels, including highly cost-effective perovskite solar panels, in Europe. MiraNeo® products, which include front and back sheets and edge sealants, are being optimized for the roll-to-roll (R2R)*3 assembly production line developed by TNO to enable mass customization.

Perovion was established in March 2026 as a spin-out company of TNO to commercialize the perovskite solar cell manufacturing technology developed by TNO. To further enhance implementation feasibility, establish a stable supply structure, and expand the supply chain network through Perovion’s manufacturing and supply capabilities and Toyo Seikan Group Holdings’ module integration using MiraNeo® products, the three organizations have agreed to establish a strategic technology partnership.

Primary Roles of Each Party Under the Partnership
The primary roles of the three organizations are as follows:

Outlook
Through this partnership, we will gradually expand its demonstration testing of perovskite solar panels using cells from Perovion. By combining the strengths of each of the three partner organizations in technology, manufacturing, and business development, we will leverage the insights gained from the demonstrations to establish mass production and a stable supply system as early as possible. In the Japanese market, our demonstrations will showcase the product value and help pave the way for deployment in global markets, including Europe.

*1 A solar cell with materials in which three types of ions, typically, organic ammonium, lead, and iodine, are arranged in a perovskite crystal structure.
*2 The smallest constituent unit of a solar cell that receives sunlight and converts light energy into electrical energy.
*3 A manufacturing method that enables the efficient mass production of flexible products by continuously feeding and processing rolled film.

MiraNeo®-Related Information
Toyo Seikan Group Holdings Selected as a Technology Development Partner by the Netherlands Organisation for Applied Scientific Research (TNO)-Supporting Mass Production of Next-Gen Flexible Solar Power Generation Panels Through the MiraNeo® Functional Materials Brand (Press release dated July 16, 2025)
MiraNeo® Functional Materials Brand Develops Ultra Moisture Barrier Film – Contributing to the Reduction of Environmental Impact Through the Use of Flexible Solar Power Generation Panel Applications (Published April 23, 2025, Business Topics page)

About Perovion
Perovion is a Dutch TNO spin-out that commercializes the flexible perovskite solar cell manufacturing technology developed on TNO’s pilot line. The company aims to industrialize lightweight, flexible solar panels using perovskite materials, pursue low‑cost, large‑scale production through R2R manufacturing, and contribute to the spread of sustainable energy use by strengthening manufacturing capacity in Europe.
About TNO
The Netherlands Organization for Applied Scientific Research (TNO) is a major independent applied research and development organization established by the Dutch Parliament and is among the largest of such institutions in Europe. Its wide range of research activities is internationally acclaimed. TNO also actively supports the launch of new businesses and the creation of new products and services based on cutting‑edge research.