Solar concentrator company, Silicon Valley Solar, raises $10.2M

June 19, 2007 | Matt Marshall

Silicon Valley Solar, a Santa Clara, Calif. maker of manufacturer of internal concentrator solar modules that it says allows solar power systems to get by with half the number of solar cells, has raised $10.2 million in a first round of financing.

Bessemer Venture Partners led the round, the company said in its statement (see here). It did not disclose names of other investors. Every few days, it seems, a new solar company announces new funding, as new companies seek to exploit the steadily expanding market for solar installations.

The company also said it had acquired NuEdison, a maker of photovoltaic modules for an undisclosed price.

The company said it has received a 10MW purchase order from Pacific Power Management, has a contract manufacturing agreement with GSS, a cell sourcing agreement with ErSol and a “collaboration agreement” with Conergy.

Next Story: Synopsys, a chip design company, buys ArchPro
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Tags: deal, NuEdison

About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.