Jun 10 2010
Ultrathin-film PV technology developer Solexant Corp., has secured $41.5 million in a round of Series C financing after the completion of a pilot line with 2 MW capacity functioning at the headquarters of the company. Headed by Olympus Capital Partners, the financing round comprises two other investors Birchmere Ventures and DBL Investors, with support from current investors X/Seed, Medley Partners, Firelake Capital and Trident Capital.
Solexant uses a sophisticated manufacturing method for producing nanocrystal ultrathin-film solar cell. This approach facilitates the equipment space to be used efficiently, in addition to lower labor expenses and higher throughput in comparison with other competing thin-film firms. The production process of the company reduces the overall balance of systems (BOS) costs and the manufacturing cost of solar modules.
The printable nanocrystal technology platform of Solexant was developed by Paul Alivisatos at Lawrence Berkeley National Lab (LBNL). Utilizing various materials, the platform can generate flexible thin-films. The first commercial products of Solexant are likely to be based on CdTe nanocrystals that are printed. Over the coming years, Solexant intends to commercialize high-efficiency printed nanocrystal material-based solar cells.
LBNL and Solexant have received various manufacturing and technology awards meant for nanocrystal solar cells such as the R&D 100 Award in the year 2009.