Semprius Raises Additional $3M in Venture Financing
Semprius, Inc., a North Carolina-based provider of high concentration photovoltaic (HCPV) solar modules, raised an additional $3m in its latest round of venture financing.
This funding, which is a follow-on to the Series C round in July 2011 led by Siemens Venture Capital (read here), came from Morgan Creek Capital Management, and existing investors Illinois Emerging Technologies Fund, a fund managed by IllinoisVENTURES, and In-Q-Tel.
The company intends to use the capital to build a pilot plant to produce high-efficiency, low-cost solar modules.
Through its proprietary micro-transfer printing process Semprius uses a small solar cell (approximately the size of a pencil point) to create high concentration photovoltaic (HCPV) solar modules. The company, which is led by CEO Joe Carr, also said that it has added Gregory Wolf, president of Duke Energy Renewables, to its board of directors.
Semprius is currently hiring (http://www.semprius.com/careers.htm).