Xunlight raises another $11M for thin-film solar modules
Xunlight is on a roll: Only a few weeks after disclosing that it had raised $4.97 million from Ohio’s Third Frontier Projects, the Toledo-based developer of flexible, low cost thin-film silicon modules has secured another $11 million in third round funding from a group of institutional investors, led by Rabo Ventures. Returning investors included Trident Capital and Emerald Technology Ventures.
The company plans on using the funds to expand its manufacturing operations; it currently operates a 2 megawatt roll-to-roll pilot plant that manufacturers lightweight, flexible PV products and is building a 25 megawatt plant. Its other immediate goals are to improve the manufacturing process’ efficiency and to develop a more advanced fabrication technology.
Xunlight has now raked in over $40 million in institutional investments — including $22 million in second round funding and $7 million in first round funding — and $10 million in R&D funding from Ohio, the US DoE and the Department of Commerce over the past 16 months.
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About the Author, Jeremy Jacquot
Jeremy Jacquot is a doctoral student at the University of Southern California who is studying watershed management and global biogeochemical cycling. He previously studied marine biology at UCLA where he earned his B.S. in 2005; he is the Los Angeles correspondent for TreeHugger, where he focuses on science/technology and business news.