First published on the Cleantech Investor website, July 2014
California based Solexel has raised US$31 million in equity for the commercialisation of its thin‐crystalline silicon solar modules. Investors included GAF, the largest roofing materials manufacturer in North America, alongside existing shareholders, who include Kleiner Perkins Caufield & Byers, Technology Partners, DAG Ventures, Northgate Capital, GSV Capital Corp, Gentry Venture Partners and Jasper Ridge Partners. Solexel has also received investment from Sunpower. Solexel was incorporated in 2007, and has a fully operational pilot fab in Milpitas, California. It is building a 1 MW capacity manufacturing plant in Malaysia.
Solexel developed a BIPV solar roofing shingle with Owens-Corning, with support from a $13m US DoE grant. Its PV modules for the residential, commercial and utility-scale market segments are based on its ultra-thin silicon solar cell technology, which offers the performance, quality and reliability of the industry’s best-performing cells, at significantly lower cost.