Wednesday, March 28, 2012

Semprius Closes Funding Round of $7.5 Million

CED Member Semprius, Inc., an innovator in high concentration photovoltaic (HCPV) solar modules, recently secured an additional $7.5 million in funding. Existing investors, Siemens Venture Capital, ARCH Venture Partners and Intersouth Partners, contributed to the investment round.

Proceeds from the new funding will be used to further accelerate construction and ramp-up of Semprius’ pilot production facility to produce high-efficiency, low-cost solar modules.

Semprius delivers a unique, HCPV module design that begins with its proprietary micro-transfer printing process.  This process enables the company to use the world’s smallest solar cell – approximately the size of a pencil point – to create solar modules with unmatched cost and performance advantages.  In January, Semprius set a new world record for photovoltaic module efficiency, reaching 33.9 percent.

“We appreciate the continued support of our investors and our board of directors,” said Joe Carr, chief executive officer of Semprius. “This investment will enable us to address increasing demand for our high-efficiency modules with meaningful commercial volumes in 2013.”

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