Silicon Valley Solar Raises $10.2M

Silicon Valley Solar has raised $10.2 million in a Series A funding round, with Bessemer Venture Partners as the lead investor.

“We are very enthusiastic about SV Solar’s approach to this space,” said Justin Label, for Bessamer. “Sol-X technology can leverage mature materials and processes while delivering compelling cost advantages in a very capital efficient way. BVP is impressed with the SV Solar management team, the strategy they have developed to go to market, and the business model enabled by their technology. We believe the addition of NuEdison will serve to accelerate SV Solar’s ability to deliver upon their value proposition.”

SV Solar has a 10MW purchase order from Pacific Power Management, a contract manufacturing agreement with GSS, a cell sourcing agreement with ErSol and a collaboration agreement with Conergy.