Solaria Raises $23 Million in Funding to Expand Manufacturing of Its Breakthrough Solar Modules
Solaria Corporation, a global provider of solar module technologies, announced that the company has raised $23 million in growth funding from a syndicate of leading strategic and financial investors including Presidio Partners, Kline Hill Partners and Structural Capital. This infusion of capital will enable Solaria to expand its manufacturing capacity globally and in the United States; an expansion to the company's production facility is in the works.
FREMONT, CA, JAN. 11, 2018 - Solaria Corporation, a global provider of solar module technologies, announced that the company has raised $23 million in growth funding from a syndicate of leading strategic and financial investors including Presidio Partners, Kline Hill Partners and Structural Capital. This infusion of capital will enable Solaria to expand its manufacturing capacity globally and in the United States; an expansion to the companys production facility is in the works.
"Solaria has designed and perfected extremely high-efficiency PowerXT modules," said Solaria CEO Suvi Sharma, "and were well-positioned to exponentially ramp up production. This new infusion of capital puts us on track to deliver our modules to solar installers, distributors and property owners around the nation, and eventually, around the world."
Solarias PowerXT® modules are optimized for residential deployment. "Solaria's extremely high efficiency solar modules are not only exceedingly powerful, theyre very aesthetic, too," noted Todd Jaquez-Fissori, Managing Partner at Structural Capital. "Weve examined and evaluated a wide range of emerging solar innovations, and found Solarias approach to be outstanding. Their products are robust and attractive; the company places a high emphasis on quality, profitability and performance. Customers and partners are very receptive to the advancements in Solarias technology - and the companys commitment to fostering wider solar deployment on residential rooftops."
Solarias flagship product, the PowerXT module -60 cell equivalent, with a black back sheet- are built on the companys proprietary technology, which utilizes advanced cell interconnect and module production processes. Through these patented technology / techniques, Solaria has created a new standard in PV module efficiency and reduction in system costs. Providing labor savings on racking and system components, PowerXT modules significantly boost power generation while eliminating reliability challenges that can reduce conventional PV modules long-term performance. This ensures that solar installers maximize power deployment on customer roofs - enabling them to install attractive, cost-effective distributed power plants that accelerate payback period and profitability.
About Solaria Corporation
Solaria Corporation is a solar technology company that is paving the way for distributed, clean power generation through optimized solutions for a range of applications. Leveraging its proven core technology, field performance and sophisticated automation, Solaria delivers solutions that address a unique set of requirements for the rooftop and architectural solar markets. Solaria headquarters are in California. For more information, please visit www.solaria.com.
Contact: Susan DeVico firstname.lastname@example.org 510 339-1527
Alencon Systems - High Power, High Voltage DC:DC Optimizers
Alencon Systems is the premier manufacturer of high power, high voltage DC:DC optimizers for alternative energy applications including solar, battery energy storage, Microgrids, Fuel Cells and Electric Vehicle charging. Alencon's DC:DC converter offerings include the SPOT, BOSS and CUBE series DC:DC converters. The SPOT is a modular, uni-directional DC:DC solution ideal for solar applications. The BOSS is a modular, bi-directional unit for use with battery energy storage. The CUBE is a monolithic DC:DC converter which is available in both uni-directional and bi-directional modalities. Pictured above, is the Alencon SPOT.