First published in Cleantech magazine Issue 6 2011, Copyright Cleantech Investor Ltd. 2011
Target Company: Solaria Corporation
Deal Value: US$30m
Californian concentrated solar developer Solaria Corporation announced in November 2011, in a regulatory filing, that it had raised US$30 million of funding, the latest in a total of US$100 million raised over the past year. Solaria claims to have developed an optical concentrator which can double the volume of sunlight absorbed by each silicon cell in a ground mounted concentrated solar system. The company has developed cell multiplication technology, through which standard crystalline silicon is cut into strips and reassembled underneath a concentrator. Solaria’s investors include Q-Cells, Sigma Partners, Moser Baer, Mitsui Ventures, Savitr Capital and NGEN Partners. The company has a ten year supply contract with Q-Cells.
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