Sunpreme, a Sunnyvale, CA-based global manufacturer of low-cost, highly scalable SmartSilicon®solar cells, has closed an over $50m financing.
The round was led by the International Finance Corporation (IFC), which joined existing investors Capricorn Investment Group and China Environment Fund III, L.P.
The company intends to use the funds to construct a state-of-the-art Manufacturing and final process development facility in Jiaxing, China, allowing to continue to expand production of its solar cells by year end.
Sunpreme has R&D and process integration facilities in Sunnyvale, CA.
Led by Chairman & CEO Ashok K. Sinha, Sunpreme has developed an innovative solar cell technology that delivers high-efficiency solar photovoltaic panels at lower costs.