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.
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