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.
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[...] CPV startups has grown by leaps and bounds over the past year. Silicon Valley Solar, which develops internal concentrator modules, Cool Earth Solar, which received funding a few months ago to develop plastic balloon [...]