San Diego-based Pyron Solar Inc. has closed a round of Series A equity financing with New Energies Invest Ltd. (NEI) of Switzerland. Pyron Solar manufactures utility-scale concentrating photovoltaic systems and says the new funds will be used to improve product reliability, hire new employees and transition from the demonstration phase to the beginning of low level production.
"The investment from NEI is a crucial next step as we seek to establish the reliability of our product within certain key markets," says Doug Carriger, CEO of Pyron Solar.
The company says it will establish a full-scale pilot project in the U.S. using its high-efficiency, low-profile concentrating solar generator. Currently, Pyron Solar has a working 6.6 kW prototype in El Cajon, California and is building pilot projects in Spain and China.
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