Solexant Corp., a developer of so-called "ultrathin-film" photovoltaic (PV) technology, announced a $41.5 million series C financing round.
The funding follows the completion of a 2-megawatts (MW) pilot line at the company’s headquarters.
The funding round was led by Olympus Capital Partners, and includes two other new investors, DBL Investors and Birchmere Ventures. Existing investors Trident Capital, Firelake Capital, Medley Partners and X/Seed also contributed.
Solexant utilizes a roll-to-roll manufacturing technique to produce what it says is the industry’s first nanocrystal ultrathin-film solar cell.
Roll-to-roll thin-film processing is the holy grail of thin-film solar–promising more efficient use of equipment space, as well as higher throughput and lower labor costs.
Developed at Lawrence Berkeley National Lab (LBNL) by Dr. Paul Alivisatos and his team, Solexant’s printable nanocrystal technology platform can produce flexible thin films using a variety of materials through a fast and simple deposition process. Solexant’s first commercial products will be based on printed cadmium telluride (CdTe) nanocrystals.
Solexant says the process brings down the solar module manufacturing
cost and total balance of systems (BOS) cost to below those of other
thin film competitors.
Solexant is based in San Jose, California.
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