Nanosolar, which uses nanotechnology to print thin film solar, closed $20 million to fund expansion. The company is attempting to deliver the lowest cost thin film solar through advanced design and manufacturing processes.
Current investors Mohr Davidow Ventures and OnPoint Technologies, Inc. participated in the round with new investor aeris CAPITAL.
“We believe solar printing is the future of low cost harvesting of solar energy,” says Erik Oldekop of aeris CAPITAL. “We are eager to be a part of Nanosolar’s growth and validation.”
DOE’s National Renewable Lab certified Nanosolar’s cell efficiency at 17.1% and the company’s expanded to 115 megawatts of production capacity.
Nanosolar prints solar cells based on CIGS technology and nanoparticle inks. Its first product, the Nanosolar Utility Panel, enables competitively priced peak power and installed system economics at utility-scale.
Solar start-ups have been re-tooling to compete with low priced Chinese manufacturers, which hasn’t been easy.