Voltaix receives $10 million from MissionPoint Capital
Voltaix, a leading provider of materials that enhance the performance of semiconductor chips and solar cells, has received $10 million in equity financing from MissionPoint Capital Partners, a private investment firm providing growth capital to companies focused on clean energysolutions.
Voltaix also announced that Mark Schwartz, co-founderand Chairman of MissionPoint and formerly Chairman of Goldman SachsAsia, has joined the Voltaix board of directors.
"Mark Schwartzbrings tremendous experience and insight to our board of directors andwill help Voltaix become a global leader in advanced materialsmanufacturing," said Peter B. de Neufville, Chairman of Voltaix. "Thisequity financing will help Voltaix significantly increase our production and development capabilities, and will enable Voltaix to expand ouractivity in Asian markets."
"With a quarter century of technology leadership, Voltaix has a strong legacy of innovation that has helpedelectronics manufacturers support the expanding demand for applicationssuch as thin film photovoltaics," said Schwartz. "Voltaix is positionedto capitalize on extraordinary growth opportunities as a result of thetransition to low-carbon technologies. Our investment in Voltaix isconsistent with MissionPoint’s strategy to partner with companiesspearheading this global transformation."
"Solar cell producers are increasingly focused on materials that increase cell efficiency,and Voltaix is on the leading edge of innovation in this area," saidMark K. Fine, Chief Executive Officer of Voltaix. "This partnership with MissionPoint strengthens our ability to maintain our leadershipposition as a developer of enhanced products for the PV andsemiconductor industry."
According to Paula Mints, PrincipalAnalyst at Navigant Consulting, shipments of thin film photovoltaics(using amorphous silicon, CdTe and CIGS technologies) grew at a compound annual rate of more than 100% from 2005 through 2009 and should reach$9 billion by 2015.
Following a 22-year career at GoldmanSachs, Mark Schwartz served as President and CEO of Soros FundManagement from 2002 through 2004.
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