OptiSolar Quietly Piling On Cash

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OptiSolar is a thin film solar maker with massive claims, like a 550 MW photovoltaic farm in San Luis Obispo County that it says is in the works. And the Hayward, California-based startup appears to be raising loads of cash to try to implement its aggressive plans. According to a regulatory filing picked up by Pehub.com OptiSolar has recently raised $77.8 million from investors, on top of a $132 million round raised back in April.

The most recent quarterly MoneyTree Survey noted OptiSolar’s $132 million as the largest round of last quarter. We noted earlier this year that in January OptiSolar had raised $38.3 million according to regulatory filings we found.

So over the past several months the company appears to have raised over $200 million, which makes it one of the more well-funded cleantech startups around. While other solar thin film firms like Nanosolar, Heliovolt, and Miasole have raised sizable rounds, too, we’re not sure exactly how the company plans to spend the cash. We’ve repeatedly tried to contact the company and are still waiting to hear back.

8 Comments

jimh

I would imagine that if they are building farms to sell the electricity, the cash is for future land purchases, or maybe even the cash needed to complete the necessary land purchases for the initial 550MW already planned.

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