Innovalight takes $5M for solar manufacturing equipment
Innovalight, a San Francisco-based company that makes flexible thin-film solar modules, has taken $5 million in equipment lease financing from ATEL Ventures.
The most common substance for thin-film cells is CIGS, but Innovalight uses a printed silicon-ink process. The deposition technique uses less silicon, and allows for the greater flexibility of Innovalight’s modules.
Last year, Innovalight took $28 million in financing and announced plans to build a manufacturing facility, which is slated to open this year.
Next Story: InSync Software raises $3M for RFID software
Previous Story: Involver wants to help companies market themselves to social network users
About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.