VC Funds Drops Another Three Million Into Advent Solar

SOLAR DAILY

Advent's unique cell design is known as Emitter-Wrap-Through. It's an innovation that offers the potential for lower cost through simplified assembly, higher energy production, and the use of ultra-thin silicon wafers.

by Staff Writers
Waltham MA (SPX) Jun 20, 2007
@Ventureshas made another $3.0 million investment in Advent Solar's recently-announced Series D financing round of more than $70 million. @Ventures was one of Advent Solar's first venture capital providers, investing in the company's Series B investment round in late 2004 and again in Advent Solar's Series C round in 2005.

New investors in Advent Solar's Series D funding round include ZBI Ventures, Sun Mountain Capital, and Globespan Capital Partners. The company's other existing investors -- Battery Ventures, Enertech Capital Partners, the New Mexico Co-Investment Partners, and Firelake Capital -- also participated in the Series D round.

"The new funds will enable us to expand faster in emerging geographical markets, accelerate our product development and extend the services organization to meet the demands of our growing number of customers," said Rusty Schmit, President and CEO of Advent Solar.

Advent Solar is currently shipping products based on its proprietary emitter wrap-through (EWT) technology to customers around the world and is establishing a solid position in the rapidly growing solar photovoltaic market. The company expects to drive down the cost of solar power by leveraging the advantages of its unique technology, including the ability to use ultra-thin silicon wafers to minimize the consumption of silicon.

Advent Solar, Inc. is a leading manufacturer of innovative solar cells and modules. Its unique, exclusive cell technology was originally developed at Sandia National Laboratories and is in a class of solar cells referred to as back-contact cells. This technology is the basis for Advent's high performance products with the potential for dramatically lower cost than conventional solar photovoltaic technology.

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SatCon Photovoltaic Inverters Installed At 1 MW SolarCraft Site

Boston MA (SPX) Jun 20, 2007
SatCon Technology Corporation, a developer of power management and system architecture solutions for the alternative energy and distributed power markets today announced that its PowerGate commercial grade inverters have been installed as an integral part of a SolarCraft installed 1.1 Megawatt solar energy system at Paramount Farms, Inc., the world's largest vertically integrated supplier of pistachios and almonds.

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