Iosil Energy Corp., a producer of solar-grade polysilicon for the photovoltaic industry, has secured $13.5 million in equity financing in an oversubscribed round. New investors BankInvest New Energy Solutions, SiC Processing, Bekaert, Epic Ventures and Gideon Hixon joined existing investors EnerTech Capital, Cycad Group, Espirito Santo Ventures, Milcom Technologies, Applied Ventures, Phoenix Fire and Merrimaker.Â
The initial tranche allows the company to specify and engineer its pilot plant facility in one of several locations under consideration. The full investment will be used by the company to build out a pilot manufacturing plant and prepare for commercial introduction.
Iosil says it has demonstrated its ability to produce high-purity polysilicon from the waste material created by wafer sawing operations. The company's technology can also be used to produce polysilicon from metallurgical-grade silicon.
SOURCE: Iosil Energy Corp.