Solar start-up SoloPower on Thursday said it landed a series B round of $30 million, in a vote of confidence for a nascent solar panel technology.
Oslo, Norway-based Convexa Capital led the round, which was joined by existing investors. Altogether, SoloPower is in line to receive over $42 million in venture capital and grants.
The $30 million will be used primarily to build up a 20-megawatt manufacturing facility near its Milpitas, Calif., headquarters, said company CEO Homayoun Talieh on Thursday. By the third quarter of next year, it expects to have that plant operating and delivering commercial products, he said. … Read more