Nanosolar secures funds for expansion


Specifically, the U.S. solar company says it will use the funds to expand production of its CIGS thin film photovoltaic cells and panels, invest in R&D to drive up efficiencies and look to faster commercialize its technology.

The funds came from both new and existing investors, including OnPoint Technologies, Inc., Mohr Davidow Ventures, and Ohana Holdings LLC, and international Family Offices. "We strongly believe in Nanosolar’s technology and the company’s ability to deliver the most cost-efficient solar electricity for utility scale and defense installations," commented John Trbovich, of Arsenal Venture Partners, the manager of OnPoint Technologies, Inc.

Currently Nanosolar manufactures around 100 megawatts worth of thin film panels. It did not say by how much it intends to expand this by, however. In the lab, the company has achieved efficiencies of 17.1 percent.

In related news, Nanosolar completed a one megawatt photovoltaic installation at Camp Roberts, in San Miguel, California on May 18. In a statement released, the company said the project is part of the U.S. Department of Defense’s (DoD) Environmental Security Technology Certification Program (ESTCP), "which is testing various green technologies to identify viable solutions to address rising energy costs and minimize the reliance on fossil fuels."

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.