5 Comments

Summary:

In the race to produce cheaper solar cells using new manufacturing methods and materials, solar startups have been requiring more and more money to get their products to market. Over the past few months, Konarka, Miasolé, HelioVolt, and Nanosolar have all raised funding in an effort […]

innovalight1.jpgIn the race to produce cheaper solar cells using new manufacturing methods and materials, solar startups have been requiring more and more money to get their products to market. Over the past few months, Konarka, Miasolé, HelioVolt, and Nanosolar have all raised funding in an effort to reach the large-scale manufacturing stage. Another company made a funding announcement this morning: Innovalight, a Santa Clara, Calif.-based solar startup founded in 2002, said today it has raised $28 million in a Series C round.

Innovalight CEO Conrad Burke explains to us in an email that the company’s technology is based on a liquid silicon ink, which contains silicon nanoparticles. A lot of the other thin-film startups are using non-silicon materials, which (at the moment) can be cheaper than silicon, but also less efficient. Innovalight is betting that its silicon ink and printing process can bring down the cost of manufacturing a solar cell and also keep the cell’s efficiency levels up.

The round was led by Norway-based investor, Convexa Capital, with participation by Scatec AS, Apax Partners, ARCH Venture Partners, Harris & Harris Group, Sevin Rosen Funds and Triton Ventures. The company already raised $14 million in its Series A and B rounds. With the new funds, the company says it will move to a new 30,000-square-foot manufacturing facility in Sunnyvale, Calif., and hopes to start selling its solar cells in 2009.

You’re subscribed! If you like, you can update your settings

  1. I still wonder how they produce thin layers of silicon on their substrate and if its stable enough… I’m still waiting for innovation around solar self-assembly layers or even Langmuir-Blodgett films, maybe this is it?

  2. FAQ: Thin-Film Solar « Earth2Tech Thursday, December 20, 2007

    [...] — The company’s technology uses silicon nanoparticles in a liquid silicon ink; it has raised $28 million for its silicon ink printing [...]

  3. Nano-Ink Solar Startup Innovalight Ramps Up With $5M « Earth2Tech Wednesday, October 15, 2008

    [...] new financing pushes Innovalight’s total funding to over $50 million. The company raised $28 million in Series C funding last year led by Convexa Capital, and including Scatec AS, Apax Partners, ARCH Venture Partners, [...]

  4. Holy New Year Greentech Funding! Thursday, January 7, 2010

    [...] past few years, including $5 million in debt financing, $5 million in equipment lease financing, a $28 million Series C round, and $14 million in its Series A and B rounds. Innovalight says the new funding will be used to [...]

  5. Strong Start for Green Tech in 2010 » CUNY Institute for Sustainable Cities Friday, January 8, 2010

    [...] past few years, including $5 million in debt financing, $5 million in equipment lease financing, a $28 million Series C round, and $14 million in its Series A and B rounds. Innovalight says the new funding will be used to [...]

Comments have been disabled for this post