Alta Devices Inc., a Santa Clara, CA-based company that focuses on improving the production economics of high efficiency solar photovoltaic (PV) applications, has raised an equity funding as part of a $72m round.
– returing returning firms August Capital, Kleiner Perkins Caufield and Byers, Crosslink Capital, DAG Ventures, New Enterprise Associates (NEA), Presidio Ventures (a Sumitomo Corporation company), Technology Partners, and Dow Chemical;
– new backers Alberta Investment Management Corporation (AIMCo) on behalf of certain of its clients, Good Energies, Energy Technology Ventures (a joint venture involving GE, ConocoPhilips and NRG Energy), and Constellation Energy.
The company intends to use the new funds to continue moving toward commercialization.
In conjunction with the funding, Jagdeep Singh Bachher of AIMCo has taken a seat on Alta’s board joining:
– CEO Christopher Norris,
– Bill Joy of Kleiner Perkins Caufield and Byers,
– Andy Rappaport of August Capital,
– Alain Harrus of Crosslink Capital and
– founders Harry Atwater, Professor of Applied Physics and Materials Science at Caltech, and Eli Yablonovitch, Professor of Electrical Engineering and Computer Sciences, University of California, Berkeley and Lawrence Berkeley National Laboratory, who formed the company in 2007.