Just in from Solaria:
Solaria to Accelerate Growth with $45 Million in Financing
Company Plans Full Scale Production of Solar PV Modules that Offer Crystalline Performance at Substantially Lower Cost
FREMONT, Calif., MAY 11, 2010 – Solaria Corporation, a leading designer and global manufacturer of solar photovoltaic modules, announced today that it has closed
$45 million in a financing round led by CMEA Capital and DBL Investors. Other participants in the round include current investors Sigma Partners and NGEN Partners and new investors Mitsui Ventures and Savitr Capital.
Solaria will use the financing to meet rapidly increasing global demand for cost effective solar modules for large and utility scale projects, the fastest growing PV market segment. The company’s aggressive growth plans demonstrate the capital efficiency of its business model.