PVT Solar, Inc., a San Francisco Bay area, CA-based developer of a new solar energy system called Echo™, has recently closed a $13.7m series B financing round.
The investment was led by Sigma Partners, with participation from Khosla Ventures and Energy & Environment Investment.
In 2009, Khosla Ventures led PVT Solar’s initial first round of financing.
The company has also appointed Vikas Desai as CEO.
Mr. Desai was previously vice president and general manager of SunPower Corp.’s residential and light commercial business unit.
Joining CEO Desai and PVT Solar co-founders Josh Plaisted and Gordon Handelsman are several key professionals charged with advancing Echo’s patented technology.
They include Ian Smith, director of product development, Ram Narayanamurthy, chief science officer, and Wade Albritton, director of mechanical systems. Smith, Narayanamurthy, and Albritton are experts in building energy management and thermal energy systems and hold over 120 patents between them.
These hires are expected to help PVT Solar enhance sales, channel development, field operations and installation efforts of Echo solar energy systems, which generate electricity, hot water for washing and bathing, and thermal energy for home heating and home cooling.