According to Chinese media reports, the amounts now invested across a host of perovskite start-ups has now reached “billions” – billions of yuan, so hundreds of millions of dollars given the 7:1 exchange rate. We have been aware of some of these names – such as Microquanta, GCL Perovskite, and Utmolight – for years, as they have posted impressive and occasionally record-setting research records. Others such as Aolian Ae&Ea may be dubious, with Aolian under investigation on suspicion that its claims of a perovskite business adventure being fraudulent. Plans already being touted for multi-GW production lines to be established in just the next few years are also dubious. Microquanta credibly claims to have begun work on a 12 MW perovskite…