The financing will be used for the company’s high-volume manufacturing. The SolFocus mission is to enable solar energy generation at a Levelized Cost of Energy (LCOE) competitive with traditional fossil fuel sources. To achieve this goal, the company has developed concentrator photovoltaic (CPV) technology which combines high-efficiency solar cells (approaching 40%) and advanced optics to provide solar energy solutions.
The company is headquartered in Mountain View, California with European operations headquartered in Madrid, Spain, and manufacturing in Mesa, Arizona and with manufacturing partners in China.
SolFocus is venture-backed by New Enterprise Associates and Apex Ventures.