Companies )1366 Technologies Raises $5.15 Million |
| Published 04 February 2010 |
| 1366 Technologies today announced that the company has closed $5.15 million of venture capital bringing its total amount raised to $17.55 million. The round was led by returning investors Polaris and North Bridge Venture Partners and was awarded on the heels of signing a $4 million contract with the U.S. Department of Energy’s ARPA-E program. "While we were in a strong cash position, our existing investors were impressed with our progress and the operational achievements we've made during the past 18 months,” said Frank van Mierlo, president, 1366 Technologies. “This round is a direct result of our ability to meet a number of critical technology milestones, our strong intellectual property position, and our standing as the only solar photovoltaics company to receive recognition from ARPA-E.” The recently closed round will accelerate the commercialization of 1366’s Self-Aligned Cell (SAC) and Direct Wafer technologies. The company has already secured two lead development customers and is actively selling the SAC equipment and process, which features innovative cell texturing and fine line metallization to deliver higher efficiencies with simple, low cost solutions for cell manufacturers. |
| Source: 1366 Technologies |
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