Siva Power Lands $10M to Chase Giga-​​Scale Domestic Thin-​​Film Solar Production

January 29, 2015

By Eric Wesoff: Pro­duc­ing gigawatts’ worth of thin-​​film solar pan­els with domes­tic man­u­fac­tur­ing is still a real pos­si­bil­ity for CEO Brad Matt­son and CTO Markus Beck of Siva Power.

The San Jose, Calif.-based solar startup is freshly funded and focused on devel­op­ing the world’s largest-​​scale and least-​​expensive thin-​​film CIGS pro­duc­tion line.

The com­pany just banked $10 mil­lion in new fund­ing, which includes a $3 mil­lion DOE Sun­Shot grant, a $3 mil­lion con­ver­sion of debt financ­ing from Tri­dent Cap­i­tal, DBL Investors, Med­ley Part­ners and Acero Cap­i­tal, as well as $4 mil­lion in new cap­i­tal from the city of Wuxi, China and exist­ing investors DBL, Med­ley, and Acero.

Accord­ing to Siva’s CEO (and new author) Brad Matt­son, this cap­i­tal allows Siva to begin build­ing “the world’s highest-​​capacity co-​​evaporation source” and nar­row down the site selec­tion for its envi­sioned 300 megawatt-​​factory. Cal­i­for­nia is on the short list.

To read the full arti­cle visit green­tech solar.