German solar module manufacturer Sulfurcell announced on Monday that it has secured $25.6 million in equity funding to expand its operations and introduce its thin-film photovoltaic technology to market.
Intel Capital, the tech giant's investment arm, led the charge, followed by a diverse mix of organizations, including Climate Change Capital Private Equity and Zouk Ventures of London, Bankinvest Group of Copenhagen, Masdar Clean Tech Investments of New York and Demeter of Paris.
Sulfurcell specializes in making modules for CIGS/CIGSe (that's "copper indium gallium selenide" for the rest of us) thin-film solar panels. The company's sales pitch is that its technology allows for PV modules that offer the same performance as what's on the market at half the cost.
Sulfurcell recently announced commercial modules with 12.6 percent efficiency; R&D efforts are focused on achieving 14 percent efficiency within 12 to 18 months.
Intel Capital's Heiko von Dewitz had this to say about the firm:
The company’s efforts align well with Intel’s focus on investing in the design, development and delivery of new technologies to address sustainability challenges.
The company first shipped modules in 2005 and has since ramped up its fabrication to mass scale. (It's new plant clocks in at 35 megawatts of capacity.) Its customers are BIPV, solar construction and commercial rooftop firms.
This post was originally published on Smartplanet.com