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GreenVolts

GreenVolts seeks to be Apple of high-end solar

GreenVolts is blasting the equivalent of 1,300 suns onto a solar cell to survive in the cut-throat solar industry

The Fremont, Calif.-based start-up today announced it has raised an additional $35 million and unveiled a redesigned large-scale solar array. The series D funding brought $20 million from industrial conglomerate ABB which will market GreenVolt's solar system to businesses and utilities.

The solar industry is undergoing a brutal price war driven by the rapidly falling price of conventional silicon solar panels. GreenVolts has designed a concentrating photovoltaic (CPV) system, where powerful Fresnel lenses focus light onto several super-efficient … Read more

Solar start-up GreenVolts replaces CEO, shifts plan

California solar start-up GreenVolts has named an interim CEO and decided to pursue a different strategy to adapt to changing business conditions.

The four-year-old company said Tuesday that founder Bob Cart is now chairman of the board and that chief financial officer Gary Beasley will be president and CEO on an interim basis.

In addition, GreenVolts has reorganized its business to focus on designing and selling its concentrating-solar equipment, rather than building solar power plants itself--a decision that other solar start-ups have also made.

The new business plan involved layoffs earlier this year, part of a "larger strategic realignment … Read more