Lightwave raises $13M to improve thin-film solar
Thin film solar cell maker Lightwave Power brought in $13 million in first-round funding to improve conversion rates of sunlight into electricity. Right now, the average conversion rate is about 9 to 15 percent. The Cambridge, Mass. company says it’s working on thin-film solutions to actually alter the frequencies of light from infrared and ultraviolet into varieties that are more easily absorbed and turned into power.
The round came from Quercus Trust and 21 Ventures LLC. Lightwave says it won’t seek further investment until it kicks off the manufacturing phase — but that isn’t expected to happen for another two years, reports VentureWire.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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