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Summary:

Nanosolar, one of the first startups to begin producing next-generation thin-film solar cells has raised yet another $50 million in funding; this time from French power company EDF Energies Nouvelles. EDF’s investment also came with an agreement to be able to buy Nanosolar’s panels at a […]

nanosolarpanelfield.jpgNanosolar, one of the first startups to begin producing next-generation thin-film solar cells has raised yet another $50 million in funding; this time from French power company EDF Energies Nouvelles. EDF’s investment also came with an agreement to be able to buy Nanosolar’s panels at a competitive cost starting in 2009.

There was a rumor that Nanosolar had been looking to raise some additional funds and was touting a post-money valuation of $2 billion. The solar firm was founded in 2002 and raised over $100 million in capital (before this round) from Sand Hill Road heavyweights like Mohr Davidow Ventures and Benchmark Capital, as well as the Google guys, Larry Page and Sergey Brin.

That valuation probably isn’t too unreasonable. Nanosolar has key technology for making solar panels out of copper indium gallium selenide (CIGS), which is cheaper to produce than traditional solar cells, partly because it contains no silicon, which is currently in high demand. CIGS can also be printed on flexible materials that can be built into rooftops.

EDF’s investment could also help the French firm expand its solar business in the U.S. EDF owns California-based wind and solar power company enXco, which has been adding more solar projects as of late.

More on Nanosolar:

10 Questions for Nanosolar CEO Martin Roscheisen

Nanosolar Starts Thin-Film Solar Panel Production

Is Nanosolar Worth $2 Billion?

By Katie Fehrenbacher

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  1. If the Nanosolar panels are flexible and cheap enough, they could be put into the roofs of hybrid vehicles like the Prius.

    This can’t be far off surely?

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  2. [...] Earth2Tech reports that NanoSolar already has backing from Mohr Davidow Ventures and Benchmark Capital, having raised more than $100 million since its founding in 2002. NanoSolar’s technology allows for making solar cells from copper indium gallium selenide, rather than silicon. [...]

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  3. [...] and one last little one to note: Nanosolar raised $50mm from EdF… with a rumored valuation of $2B.  Meanwhile, earlier this week Jonathan Shieber of VWire [...]

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  4. [...] most recent financing, $50 million from French power company EDF Energies Nouvelles, came with an agreement for EDF to buy Nanosolar panels starting in 2009. EDF would likely focus [...]

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  5. [...] If you need more evidence that this technology is economically superior to nuclear power plants, consider this: The talking heads on th MSM are always pointing to the French as the model we should emulate to save us from the disastrous consequences of climate change. The French have very little in the way of hydrocarbon fuel resources to exploit so they became an early adopter of nuclear power and it accounts for a very high percentage of their electrical production….YET now a French electric utility company has invested $50 million in Nanosolar. Google a company that uses a great deal of electricity to run its servers was an earth2tech.com/2008/04/02/nanosolar-raises-50m-more-secures-french-buyer/ [...]

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  6. Hi I am looking for a place to order nano solar pannals. I was wondering if you had a catolog to order from?
    Thanks Brando V

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  7. [...] Thin-film solar maker Nanosolar was already one of the more well-funded startups in cleantech with at least $150 million behind it. But this morning Nanosolar’s CEO Martin Roscheisen writes on the company blog that Nanosolar [...]

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