Siva Power Lands $25M to Chase Giga-Scale Domestic Thin-Film Solar Production

Greentech Media
By Eric Wesoff
May 30, 2017

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It’s extreme­ly dif­fi­cult to raise ven­ture cap­i­tal fund­ing for solar hard­ware com­pa­nies, but some­how Siva Pow­er just raised $25 mil­lion for its thin-film solar man­u­fac­tur­ing think-tank/re­tire­ment project for thin-film tech­nol­o­gists.

Siva closed this $25 mil­lion round to focus on build­ing a pilot line and devel­op­ing a solar mod­ule busi­ness — with fund­ing led by Jim Simons and Mark Heis­ing, along with Jonathan Sheets.

Mark Heis­ing is the man­ag­ing direc­tor of Med­ley Part­ners. Jim Simons, a renowned math­e­mati­cian, start­ed the Medal­lion Fund, a wild­ly suc­cess­ful hedge fund. He’s appeared on the Forbes top 100 rich­est peo­ple list and, until this invest­ment at least, was called “the world’s smartest bil­lion­aire.”

Siva Pow­er pos­sess­es an all-star team of thin-film solar tech­nol­o­gists. This $25 mil­lion adds to the $15 mil­lion in financ­ing from DBL Part­ners, Acero, Sym­me­try Group and Red House Cap­i­tal that Siva closed in 2015 and the more than $60 mil­lion that Siva had raised in pre­vi­ous incar­na­tions from Olym­pus Cap­i­tal Part­ners, DBL Investors, Birch­mere Ven­tures, Tri­dent Cap­i­tal and Fire­lake Cap­i­tal.

Read the rest of the arti­cle at: Green­tech Media