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01 septembre 2008

104 M$ raised by AVA Solar (Colorado, USA)

Par Valérie Blanchot-Courtois le 1 septembre 2008 | (0) Commentaires

AVA Solar (Fort Collins, Colorado, USA) has raised 104 M$ in funding.

The round was led by DCM and included Technology Partners of Palo Alto, Calif., GLG Partners of New York and Bohemian Cos.

LLC of Fort Collins as well as prior investor New York-based Invus LP.

The company will use the new capital to complete its first production facility in Longmont, Colorado.

Founded in 2007, AVA Solar is commercializing an advanced process for manufacturing thin-film photovoltaic modules.

Source : thedeal.com

More on AVA Solar according to their web site

AVA Solar is a manufacturer of thin-film photovoltaic (PV) modules. AVA Solar’s proprietary technology will enable the production of low-cost PV modules and will significantly reduce the cost of generating solar electricity. Production capacity will be scaled rapidly to meet the fast growing demand for solar energy. Using cadmium telluride (CdTe) thin-film technology, AVA Solar has perfected a robust, industrial-scale, continuous process for producing solar PV modules. Over the past five years, AVA Solar has successfully performed testing simulating 30 years of field exposure. These tests indicate efficiency and stability performance comparable to the leading CdTe-based modules currently on the market. AVA Solar is currently in the process of scaling up its initial production lines for a variety of large-scale, grid-connected applications. AVA Solar intends to enter large-scale production in 2009