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Intel Capital, Intel's venture capital arm, said it would invest 24 million euros ($37.7 million) in Sulfurcell, which makes thin-film solar modules using copper indium gallium selenide, or CIGS, technology to turn sunlight into electricity.
Thin film is generally less expensive than versions relying on polysilicon.
Intel's move is part of a larger Sulfurcell investment round of up to 85 million euros, of which 38 million comes from other investors such as Climate Change Capital Private Equity, AIG, Demeter Partners, Zouk Ventures and Bank Invest, Intel said.
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