FTL Solar, a developer of lightweight, flexible tensile structures embedded with thin-film solar cells providing military and commercial enterprises with economical, scalable and portable sources of electrical power and shelter, has closed a successful first round of funding, the first phase of the company's $50 million capital acquisition initiative.
The financing was spearheaded by Austin, Texas-based Terra Firma Capital Group LLC, The Josh Mailman Foundation and individual investors. In addition to funds provided by investors, FTL Solar was awarded a $200,000 matching grant from the New York State Energy Research Development Authority.
Proceeds from the present and subsequent rounds of funding will be used to expand FTL Solar's domestic and international R&D, plant, marketing and business development initiatives, the firm says.
‘Today, FTL Solar is the first provider in the world for flexible, transportable and lightweight energy generation products and structures using a flexible solar cell and structural fabric solution,’ states Todd Dalland, co-founder and chairman of FTL Solar.
SOURCE: FTL Solar