Cardiff-based roll-to-roll solar cell maker G24 Innovations (G24) has raised a further $30m.

"This is G24i's second major funding announcement in the last two months, following a $20m investment by Morgan Stanley Principal Investments in June," said the firm.

G24 has been set up as the world's first commercial manufacture of dye-sensitised thin film solar cells - which do not require silicon or other hard substrates and can be made on printing presses.

"Dye-sensitised thin film solar cells are unique in that they are extremely lightweight, durable, and produce electricity in low-light and indoor conditions," claimed G24. "As a result, our solar cells are perfect for powering mobile electronic devices such as mobile telephones, cameras, and portable LED lighting systems. On a larger scale, flexible thin film cells integrate into clothing, tents, electronic advertising displays."

The cash has come from 4RAE, a renewable and alternative energy fund that is being established in Luxembourg by Eyal Ofer and Marcel van Poecke. "The fund is being launched soon and G24i is its first investment," said G24. "4RAE will take a seat on the G24i board and will be represented by former ABN Amro CEO and Chairman Rijkman Groenink."

The Cardiff plant is huge: a 187,000 square foot facility on a 23 acre site.