Solfocus Solar Concentrator Looking For Funds

SolFocus, which makes systems that concentrate sunlight on solar cells, has been adding a little to its funds during the year. And according to a report from Venture Wire, the company has finished raising its funds, and seeks to add between $ 60 million and $ 80 million in a Series C. That coupled with the $ 95 million already collected.

The concentration solar photovoltaic systems are rare. They are among the massive solar thermal plants built in the desert, and the Standard photovoltaic panels, concentrated PV panels used with lenses and curved mirrors to focus sunlight on solar cells, which can produce more power with less material – SolFocus says that one square centimeter cell can capture more than 500 square centimeters of sunlight. Configuration reduces the amount of silicon used in panels, and can significantly reduce the costs of the system.

SolFocus is two years old more or less and seeks to grow rapidly in an attempt to commercialize its technology. The company already sells products to selected customers for installations as test sites, such as the 50-kilowatt installation for the Institute’s Concentrated Photovoltaic Systems in Castilla-La Mancha, Spain. Last July the company bought a solar tracking company InSpira based in Madrid to help the business scale reducing the cost of the crawlers.

The VentureWire report says SolFocus is now looking to increase funding for “growth and manufacturing.” Previously the company was funded by the New Association of Moser Baer India, David Gelbaum, MetaSystem Group, NGEN Partners and Yellowstone Capital.