GE Energy Financial Services, a unit of GE, plans to provide Soliant Energy, a solar module manufacturer, with nearly $21 million in venture capital. The company is investing $2.5 million and providing the power of its ecomagination program to Soliant.
Soliant is developing what it intends to be the most efficient and lowest cost technology to generate electricity from the sunlight that shines on commercial rooftops – a market it estimates will reach $13.2 billion by 2010. GE estimates that commercial and industrial buildings make up 60% of the total roof area in the U.S.
GE joins Soliant's other investors in its latest funding round, led by Convexa Capital. Earlier investors include RockPort Capital Partners, Nth Power, Trinity Ventures and Rincon Venture Partners.