Prism Solar Technologies, Inc. (PST) has secured an additional $400,000 equity financing from investors including Counter Point Ventures LLC, a New York venture capital firm as part of the 1st round of a Private Offering.
PST has begun a Private Offering in an effort to secure financing to commercialize its patented holographic planar concentrator. The company reports that it is in various stages of negotiation with strategic investors and venture capital firms.
PST’s core technology is a patented holographic planar concentrator (HPC) which passively tracks the sun and spectrally selects desirable wavelengths. The company says it can eliminate a significant amount of the most expensive part of the solar module – the photovoltaic (PV) cells.
The company is also looking at various manufacturing sites and in talks with numerous economic development agencies to locate their first commercial manufacturing plant.
Prism Solar Technologies, Inc. (PST), established in February 2005, is a subsidiary of Direct Global Power, Inc. (DGP). PST is an early stage PV manufacturer involved in manufacturing PV modules that employ its patented advanced holographic concentrator technology.