HCPV Manufacturer Semprius Secures Venture-Capital Funding


Semprius Inc., a company developing high-concentration photovoltaic (HCPV) solar modules, has secured an additional $3 million in its latest round of venture funding. Morgan Creek Capital Management, Illinois Emerging Technologies Fund – a fund managed by IllinoisVENTURES – and In-Q-Tel contributed to the investment round. IllinoisVENTURES and In-Q-Tel are existing shareholders in the company.

Proceeds from the new funding will be used to expedite construction of a pilot plant to produce solar modules. This tranche of funding is a follow-on to the Series C round in July 2011 led by Siemens Venture Capital.

In addition, Gregory Wolf, president of Duke Energy Renewables, has joined Semprius' board of directors. Wolf leads Duke Energy's non-regulated renewable power business.

Semprius says it delivers a unique HCPV module design that begins with its proprietary micro-transfer printing process. This process enables the company to use a small solar cell – approximately the size of a pencil point. Semprius says these small cells can deliver performance- and cost-related advantages over larger cells.

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