Thin-film solar startup Sencera received an additonal $5.2 million in financing after achieving an efficiency milestone.
Additional investment in the company was triggered following its successful deposition of single-junction silicon solar cells with a 7% conversion efficiency. The Company achieved the result utilizing a repeatable, fully automated process on its proprietary manufacturing platform.
The additional $5.2 million equity investment was made by The Quercus Trust and Michael Draper of Equinox Securities, Sencera’s largest Investor.
Britt Weaver, Sencera’s CFO, said, "Proceeds will be utilized to further accelerate the development of second generation tandem amorphous/microcrystalline solar cells with expected conversion efficiencies greater than 10%. Sencera is also in the process of raising additional capital in order to fully fund its first 35-Megawatt module factory in Charlotte, NC."
Cell performance was independently measured and confirmed by The University of Delaware’s Institute of Energy Conversion, designated a University Center of Excellence for Photovoltaic Research and Education by the Department of Energy and The National Renewable Energy Laboratory (NREL).
"The combination of 7% efficient thin-film single-junction silicon cells and Sencera’s low capital cost Viper(TM) PECVD platform positions the company well from an economic perspective. The efficiency target was a critical milestone that demonstrates the viability of the Viper(TM) manufacturing platform for low cost solar panel production," stated CEO Dr. Rusty Jewett.
Sencera was founded in 2003 as a plasma hardware company focused on the thin film transistor and integrated circuit industries. In 2006, The Company shifted focus to the emerging thin film solar energy industry. The following year, Sencera introduced The Viper(TM) PECVD manufacturing platform. The Company plans to use its Viper(TM) production platform to produce thin film photovoltaic modules in its factory in Charlotte, NC.
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