Semprius Raises $20 Million in Venture Capital Round Led by Siemens

Posted in Solar Power on June 30th, 2011 by News Desk –

Photo credit: Semprius

Durham, N.C. – Semprius, a developer of high concentration photovoltaic (HCPV) solar modules, has raised $20 million in its third round of venture capital, which was led by Siemens Venture Capital, the company announced.

Founded in 2005, Semprius is a spin out of the University of Illinois that is commercializing a process for printing high performance single crystal semiconductors on any substrate, including glass, plastic and other semiconductor materials.

The company said it will use the new funding to construct a pilot HCPV module production plant, which will allow it to scale up and optimize its process for subsequent large-capacity plants.

Semprius builds its modules using processes that combine extremely tiny solar cells with low-cost, efficient optics that concentrate incoming sunlight more than 1,000 times. Despite the high level of concentration, the modules remain cool for improved long-term reliability and performance, according to the company.

Other investors in Semprius’ new funding round include ARCH Venture Partners, Applied Ventures, Illinois VENTURES, Intersouth Partners, In-Q-Tel and GVC Investment.

Semprius website

Siemens Venture Capital website

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