SolarBridge Technologies, an Austin, TX-based developer of solutions that reduce the cost of energy in solar installations, has been awarded $1.5m from the Texas Emerging Technology Fund (TETF).
The company will use the funds to accelerate product development as the company prepares for the 2010 launch of its SolarBridge Microinverter, a critical component in an integral, alternating current photovoltaic (ACPV) solution.
The Microinverter’s patented architecture yields unprecedented reliability by eliminating the most failure prone components, such as electrolytic capacitors and opto-isolators, found in central inverters and competing microinverters.
In addition to product development, TETF funds will also allow the company to double the size of its Austin headquarters, with the expected hire of 15 new employees in the areas of engineering, marketing, and operations in 2010.
SolarBridge expects to add a total of 60 employees in Austin over the next 3 years.
FinSMEs
23/03/2010