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Solar Junction Closes $19.2 Mil Round for Scaling of Manufacturing

Tue, 02/14/2012 - 12:21pm
PowerPulse.net

Solar Junction, a developer of high efficiency multi-junction cells for the concentrated photovoltaic (CPV) market, announced the close of its Series D financial round of $19.2 mil from current investors with an additional strategic investment and partnership from IQE. This investment and partnership is to scale up Solar Junction’s manufacturing of its world record cell of 43.5% efficiency.

“I am ecstatic about the partnership with IQE and the closing of this current round,” said Jim Weldon, Solar Junction founder and CEO. “In the face of all the externalities hindering solar—pricing, overseas competition, financial markets—Solar Junction has multi-megawatt orders, the financing, the manufacturing capacity and the world record for cell efficiency that will catapult CPV into newer and bigger markets.”

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