Applied Quantum looks for $20M for thin-film solar

Applied Quantum Technology, maker of equipment to produce copper-indium-gallium diselenide thin-film solar cells, told Dow Jones Venturewire that it’s looking to raise a $20 million second round of funding to churn out a much cheaper product than its competitors. The Santa Clara, Calif.-based company says its cells are also improving in efficiency from 10 percent to about 14 percent.

The company previously took funding from STPV Holdings.

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