Siva Power, a Santa Clara, CA-based manufacturer of thin-film solar technology, closed a $25m funding round.
The round was led by Jim Simons and Mark Heising with support from from Jonathan Sheets.
Led by CEO Bruce Sohn, Siva Power has developed advanced manufacturing technology to produce solar modules for the “terawatt era”.
The company intends to use the funds to build out its pilot line and develop its solar module business.
THE PRESS RELEASE
Siva Power Closes on $25M to Continue Developing Low‑Cost Solar Module Technology for the Terawatt Era
SANTA CLARA, Calif., May 23, 2017 /PRNewswire/ — Siva Power, a manufacturer of next generation thin-film solar technology, today announces the closing of a $25 million dollar round focused on building out its pilot line and developing its solar module business. Jim Simons and Mark Heising led the investment with help from Jonathan Sheets.
Siva Power continues to make steady progress developing its high performance, low-cost module technology at its Santa Clara, CA development facility. Customer interest is strong from those that appreciate the challenge of deploying terawatts of solar in the coming decades.
“We are very pleased by the confidence that our investors have placed in our technical team and business model,” said Siva Power’s CEO, Bruce Sohn.
About Siva Power
Siva Power is a leader in advanced manufacturing technology for solar modules and aims to be the world’s best-in-class manufacturer of high-efficiency, low-cost solar panels. Siva Power is developing a solar factory for the “terawatt era” that will produce solar panels at unprecedented scale and the lowest production cost. For more information, www.sivapower.com.