www.solar-pv-management.com
SolarXTRA ⟡ news digest
SpectraWatt announces $41.4M in new funding
Company expects money to fuel next stage of development SpectraWatt, manufacturer of photovoltaic cells for the solar industry, has received $41.4 million in investor funding in the form of convertible debt. Investors include Cogentrix Energy, LLC, a wholly-owned subsidiary of The Goldman Sachs Group, Inc., Intel Capital, PCG Clean Energy & Technology Fund and two other unnamed sources. The funds will be used to finalize completion of the company’s factory, advance internal operations and technology development and allow for planned capacity expansion.
“We are pleased to announce this significant incremental funding in SpectraWatt,” said Andrew Wilson, SpectraWatt CEO. “These investors share our vision of an empowered U.S.-based solar industry delivering innovative industry-leading products. The funds will allow us to expand and build toward that national goal.”
SpectraWatt has completed construction of its manufacturing facility in Hopewell Junction, New York and has begun initial cell production. The company is currently preparing for an official launch in the spring with customer shipments beginning in the second quarter of 2010.
“We are excited to see SpectraWatt begin producing products for the growing solar industry,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president. “This investment reiterates Intel Capital’s commitment to the clean technology and renewable energy markets. SpectraWatt’s focus on advancing solar cell technologies, which complements Intel Capital’s strategy, will help accelerate the adoption of photovoltaic technology worldwide through greater energy conversion and manufacturing efficiencies.”
101
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104