SolarBridge Technologies, an Austin, Texas-based developer of module-integrated microinverters for the solar industry, has secured $19m in Series C funding.
The funds, which were raised from existing and new financial and strategic investors, will be used to ramp up production capacity, expand sales support and logistics organizations and scale up research and development teams.
To date, the company has raised more than $46m from firms such as Rho Ventures, Battery Ventures, and The Texas Emerging Technology Fund.
Led by president and CEO Ron Van Dell, SolarBridge has developed a patented microinverter (Pantheon), which mounts directly onto solar modules, to increase system efficiency and reliability, while reducing the cost of installation and maintenance. It enables module manufacturers to provide a 25-year warranty on their AC modules.
According to a written statement, SolarBridge will have 75 employees worldwide by the end of the year.
FinSMEs
20/06/2011