GreenVolts Secures Series B Funding

GreenVolts, a specialist in concentrating photovoltaic technology, has secured $30 million in Series B funding from Oak Investment Partners. GreenVolts will use the funds to continue to build out its organization, accelerate its advanced R&D efforts and scale capacity for anticipated 2009 deployments.

A portion of the funds will also be used for its GV1 project, the world's largest nonsilicon CPV power plant, built as part of its agreement with Pacific Gas & Electric. The first megawatt of GV1 will be delivered later this year.

SOURCE: GreenVolts

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