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Suniva, Inc. has secured $50 million in a Series B round of funding that will be used for the construction of a crystalline silicon solar cell plant in Atlanta, Georgia, USA. Suniva has an exclusive license to the patents and processes developed at UCEP over 15 years at the Georgia Institute of Technology’s University Center of Excellence in Photovoltaics (UCEP) by Dr. Ajeet Rohatgi (pictured).

“The innovative and proprietary technology and know-how that Suniva has gained from its founder, Dr. Ajeet Rohatgi and Georgia Tech’s University Center for Excellence in Photovoltaics (UCEP) over the past 15 years of research and development is astounding and unique in the industry,” said Harry Weller, partner at New Enterprise Associates. “Having an IEEE Cherry award winner who is one of the world’s top scientists in solar power technology and the superb executive team of leading industry veterans, which has joined him will enable Suniva to take silicon-based solar power to the ultimate goal of mass adoption.”

The round was co–led by New Enterprise Associates, and Advanced Equities, Inc. The Goldman Sachs Group, Inc. joined the round via its wholly-owned subsidiary Cogentrix Energy, Inc.