Miasole, the Santa Clara start-up which makes super thin solar cell technology, has raised $35 million more in venture capital.
VentureWire has the scoop today (sub required). Miasole is one of a handful of players producing solar technology based on CIGS (Copper Indium Gallium Selenium) and other new materials. CIGS allows the production of a paint-like product that is much more flexible than the traditional silicon, allowing it to be used in more areas, and potentially at lower cost.
These companies, which include Nanosolar, HelioVolt and Konarka are all racing to be first to market. Nanosolar made waves in June, when it declared it would build the world’s largest solar cell factory here in the SF Bay Area, and raised $75 million more to do that.
HelioVolt, an Austin, Tex. company, is still on the market trying to raise a reported $50 million.
In an interview with VentureWire in May, [Chief Executive David] Pearce said Miasole was in the process of building a production facility with 50 megawatts of capacity….So far, Miasole has raised at least $58 million from investors including Kleiner Perkins Caufield & Byers, VantagePoint Venture Partners, Firelake Strategic Technology Fund, Garage Technology Ventures and Nippon Kouatsu Electric Co. Pearce would not comment on new investors in the round.
We’ve written about Miasole before.