Prism Solar Looking for $150 Million For Factory Expansion

Prism Solar Technologiesplans to raise at least $150 million to set up a factory at a space itrecently bought in upstate New York, reported VentureWire.

The startup, founded in 2005, has developeda holographic film that can concentrate the sunlight onto silicon-basedsolar cells to improve power production. The holographicfilm, sandwiched between glass, can capture the desired portions of thelight spectrum to boost energy production (see company diagrams).The film then reflects the light in various directions, so the lightcan hit the front and back of the silicon-based solar cells to improveenergy output as well, the company said.

Prism Solar Prism Solar Looking for $150 Million For Factory Expansion

Based in Lake Katrine, N.Y., Prism Solar said last monthit had bought a former plasma display panel factory in Highland, N.Y.,from Panasonic and intended to convert it into a manufacturing centerfor making 60 megawatts of solar panels per year and a gigawatt of theholographic films, which would be sold to solar panel makers. The oldPanasonic factory already came with equipment and a set up that can bere-used for solar panel manufacturing, the company said.

Prism raised $8.5 million in 2007 andearlier this year won a $1 million grant from the U.S. Department ofEnergy to help it start commercial solar panel manufacturing. Prism hasa research and development center in Tucson, Ariz. It plans to startholographic film production at the Tucson facility first and assemblethose films into panels at the New York factory, the company told Greentech Media earlier this year.