1366 Technologies Closes $20M Series B Financing

1366 Technologies, Lexington, MA-based manufacturer of silicon photovoltaics, closed a $20m Series B financing.

Investors include Hanwha Chemical and Ventizz Capital Fund IV L.P., which join existing backers Polaris Venture Partners and North Bridge Venture Partners.

This capital, which brings the total amount raised by the company to $37.55m, will enable the company to start production of its Direct Wafer technology, which forms a 156mm multi-crystalline wafer directly from molten silicon in a semi-continuous, capital- and silicon-efficient process.

By using standard silicon feedstocks and producing compatible wafers, Direct Wafer integrates into the existing silicon photovoltaics’ supply chain, providing cost savings to cell customers without added complexity.


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