San Jose Solar Company Receives $41.5 Million in Funding
Sunday, June 6th 2010 12:00 PM
By GetSolar Staff.
San Jose, California-based Solexant just received a cash infusion of $41.5 million.
The funding - which Solexant received from a variety of venture capital firms - will help the company expand its operations. The solar-panel manufacturer is already operating a pilot plant near its headquarters and is hoping to build a commercial-scale manufacturing facility near Portland, Oregon.
What's unique about Solexant is its manufacturing process. It dissolves semiconductor materials into nanoparticles and deposits them on solar backing in a printing process. Giant rolls of solar-panel material are the end product.
Solexant calls its technology "ultra-thin-film" solar, in contrast to the thin-film solar that is more common in the industry. Solexant's solar material may be printed on flexible metal foils, which can be much larger than conventional hard panels.
The company hopes to undercut the price of traditional silicon solar panels. Its target per-watt production price is 50 cents - a figure that Solexant CEO Damoder Reddy says would let the company sell panels for $1 per watt.
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San Jose, California-based Solexant just received a cash infusion of $41.5 million.
