Green Volts Receives $30,000,000 Series B Financing

  • Feed Type
  • Date
    9/22/2008
  • Company Name
    Green Volts
  • Mailing Address
    46400 Fremont Blvd. Fremont, CA 94538
  • Company Description
    GreenVolts, Inc., based in San Francisco, was founded in 2005 to deliver solar power at costs competitive with that derived from fossil fuels. The company’s breakthrough high concentrating photovoltaic technology efficiently integrates tracking and optics into a system that dramatically lowers energy cost. Through low cost and high efficiency the company can access large markets previously inaccessible to solar. GreenVolts changes the economics of solar energy.
  • Website
    http://www.greenvolts.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $30,000,000
  • Transaction Round
    Series B
  • Proceeds Purposes
    GreenVolts will use the funds to continue to build out its organization, accelerate its advanced R&D efforts, and scale capacity for anticipated 2009 deployments. A portion of the funds will also be used for its GV1 project, the world’s largest non-silicon CPV power plant built as part of its agreement with Pacific Gas & Electric. The first megawatt of GV1 will be delivered later this year.
  • M&A Terms
  • Venture Investor
    Oak Investment Partners

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