Solar startup GreenVolts has found a friend in power giant ABB, in a very difficult solar market this year. On Wednesday GreenVolts, which makes solar concentrating photovoltaic technology, announced that it has raised another $35 million, with $20 million coming from ABB. At the same time GreenVolts has launched a new larger end-to-end solar power system.
ABB has been pretty aggressive at making investments in, and establishing partnerships with, innovative young startups. The company also has invested in electric car charger companies ECOtality, and green data center company Power Assure, among others.
GreenVolts is a six-year-old company that makes solar concentrating photovoltaic systems that use both solar cells and lenses to produce electricity. The company now makes a fully end-to-end array that includes modules, trackers, inverters, and energy management software.
GreenVolts has moved away from its original carousel tracker CPV design (images of that here) and had been working on a newer CPV tech (check out more photos on Ed Gunther’s site). GreenVolts has now released more details about its fully redesigned larger-scale solar array, which CNET describes as making it “The Apple of High End Solar.”