Semprius Inc., a developer of high-concentration photovoltaic (HCPV) solar modules, has secured an additional $7.5 million in funding. Existing investors Siemens Venture Capital, ARCH Venture Partners and Intersouth Partners contributed to the investment round.
Proceeds from the new funding will be used to further accelerate the construction and ramp-up of Semprius' pilot production facility to produce high-efficiency, low-cost solar modules, the company says.
Semprius' HCPV module design begins with its proprietary micro-transfer printing process. This process enables the company to use the world's smallest solar cell – approximately the size of a pencil point – to create solar modules, Semprius explains.