Solar Junction, a developer of multi-junction cells for the concentrated photovoltaic (CPV) market, has closed a Series D financial round totaling $19.2 million from current investors, with an additional strategic investment and partnership from IQE.
This investment and partnership are designed to scale up Solar Junction's manufacturing of its 43.5% efficient cell, which the company says represents an efficiency record.
In addition to IQE, investors in this round included New Enterprise Associates, Advanced Technology Ventures and Draper Fidher Jurvetson. With the strategic partnership, Solar Junction is now able to meet demand and fulfill current and future orders with a number of CPV companies.
Solar Junction's cells incorporate the company's proprietary adjustable spectrum lattice-matched technology.