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Summary:

Thin-film solar startup HelioVolt, based in Austin, Texas, has raised $78 $77 million in Series B funding. The funding was first reported by TechConfidential earlier today. Update: We spoke to HelioVolt [read our Q&A with the CEO here] and they confirmed that they’ve raised their Series […]

Thin-film solar startup HelioVolt, based in Austin, Texas, has raised $78 $77 million in Series B funding. The funding was first reported by TechConfidential earlier today.

Update: We spoke to HelioVolt [read our Q&A with the CEO here] and they confirmed that they’ve raised their Series B round of funding. The total amount of the funding was $77 million. The round was co-led by the Paladin Capital Group, based in Washington, D.C., and the Masdar Clean Tech Fund with support from returning investor New Enterprise Associates, which led the company’s $8 million Series A round in 2005.

HelioVolt, like its competitors Miasole, SoloPower, DayStar, and Nanosolar, uses the chemical copper indium gallium selendide (CIGS) to convert sunlight into electricity. Thin-film start-ups such as First Solar (FSLR), which use different semiconductor materials, also compete in the space.

The global thin-film photovoltaics market is expected to rise to $7.2 billion by 2015 from just over $1 billion today, according to research firm NanoMarkets. It looks like some of these bigger thin film players are still getting later rounds, and the well of investment might not be completely dried up yet.

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  1. Earth2Tech » Blog Archive HelioVolt CEO Talks Funding, Fears, Future « Thursday, August 16, 2007

    [...] to rake in a double-digit funding round. As we reported yesterday, The Austin, Texas-based company just snagged $77 million in Series B funding in a round led by the Paladin Capital Group and the Masdar Clean Tech [...]

  2. Solar Funding: HelioVolt Raises More Cash « Earth2Tech Monday, October 22, 2007

    [...] 22nd, 2007 at 6:46 am in Startups It was only mid-August when we heard that HelioVolt had raised a whopper of a $77 million Series B round. But given it’s taking many thin film solar startups a lot of capital to get to the production [...]

  3. Earth2Tech » Blog Archive » HelioVolt Raises More Cash, Total Over $100M Monday, October 22, 2007

    [...] was only mid-August when we heard that HelioVolt had raised a whopper of a $77 million Series B round. But given it’s taking many thin film solar startups a lot of capital to get to the production [...]

  4. Cleantech Venture Investment Hits $2.6B « Earth2Tech Wednesday, November 28, 2007

    [...] By sector, solar took the cake, with 35 solar deals worth a total of $664.6 million. The company that had the largest investment during the nine-month period was cleaner coal company GreatPoint Energy (they call it Greenpoint in the release), which we’ve written about previously, with $115 million. The second-largest investment during the period was thin film solar company HelioVolt, which we covered here. [...]

  5. 3 Stealthy Solar Startups You Should Know | Weboptium Blog Tuesday, April 6, 2010

    [...] film solar companies that raised hundreds of millions of dollars a couple years ago (Nanosolar, Heliovolt, Miasole, Solyndra) are now struggling to reach commercial-scale production, while utility-scale [...]

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