Canadian Solar Start-Up Receives Series B Financing


Cyrium Technologies, a company focused on developing high efficiency, multi-junction solar cells for concentrator photovoltaic (CPV) systems, has closed a Series B round of funding for a total of $15 million.

The round was led by The Quercus Trust of Costa Mesa, Calif. Major investors from previous rounds of financing also participated in this round, including BDC Venture Capital, Chrysalix Energy Venture Capital and Pangaea Ventures Ltd.

‘This investment is what Cyrium needs to commercialize its solar cells and enable CPV to be more competitive, thus promoting massive deployment of renewable solar energy,’ comments Simon Fafard, Cyrium's founder and chief technology officer.

SOURCE: Cyrium

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