Hanwha Chemical and Ventizz Capital Fund IV L.P. Join Return Investors North Bridge Venture Partners and Polaris Venture Partners in Backing Silicon Photovoltaics Innovator
1366 Technologies, whose innovative approaches to solar manufacturing have the potential to halve the cost of solar energy, announced today the close of a $20 million Series B financing bringing the Company’s total amount raised to $37.55 million.
1366 Technologies, a silicon photovoltaics (PV) company, today announced it has strengthened its Board of Directors with the addition of Reidar Langmo, CEO of Novus Energy Partners (Novus) and co-founder of Renewable Energy Corporation (REC). 1366 has expanded its core team by 50 percent over the past nine months, and guidance from key board members such as Langmo will help the company bring its disruptive silicon PV technologies to market more quickly.
Round Follows $4 Million in Federal Funding from the U.S Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E)
1366 Technologies, a silicon photovoltaics company, 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.
Innovative Cell Design Shatters Previous Cost Barriers for High Efficiencies to Save Manufacturers $50 Billion in Five Years
1366 Technologies, a silicon photovoltaics company, today unveiled two breakthrough technologies for multi-crystalline silicon solar cells. The company’s significant advancements in cell texturing and metallization deliver simpler, more commercially-viable solutions for multicrystalline cell manufacturers striving to reach 18 percent efficiency. 1366 Technologies’ Self-Aligned Cell (SAC) architecture breaks the historic efficiency and cost tradeoff of photovoltaics (PV) by providing mono-crystalline equivalent cell efficiencies at multi-crystalline cell costs.
