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Siemens-backed Semprius locks up $7.5m for CPV plant

Awardee Story Siemens-backed Semprius locks up $7.5m for CPV plant
Date: Mar 29, 2012

Source: RechargeNews ( click here to go to the source)

US concentrating PV (CPV) technology developer Semprius has locked up a further $7.5m in funding to push ahead with construction of a pilot production facility in Durham, North Carolina.

Existing shareholders Siemens Venture Capital, ARCH Venture Partners and Intersouth Partners contributed to the investment round.

"We appreciate the continued support of our investors and our board of directors," says Semprius chief executive Joe Carr. "This investment will enable us to address increasing demand for our high-efficiency modules with meaningful commercial volumes in 2013."

Semprius is developing a high CPV module design based around a proprietary micro-transfer printing process that makes possible the parallel transfer of many pre-formed circuit elements from a source semiconductor wafer to a wide range of substrates.

The Semprius CPV cell, which is roughly the size of a pencil point, in January was demonstrated to have efficiencies of 33.9%.

Contact information

Innovation Development Institute, LLC

   45 Beach Bluff Avenue, Suite 300
     Swampscott,  MA 01907-1542

  Tel:  (781) 595-2920