High-concentration photovoltaics (CPV) firm Amonix has raised US$129.4 million in a Series B financing round led by major VC firm, Kleiner, Perkins, Caufield & Byers. Amonix had previously raised US$25 million in Series A funding from Goldman Sachs Group and received US$15.6 million in grant funding through the Department of Energy Solar America Initiative (SAI). In 2010, Amonix received US$9.5 million in stimulus funding as part of the U.S. federal Recovery Act’s Advanced Energy Manufacturing Tax Credit, bringing capital injections past US$179 million.
“Amonix CPV systems have emerged as the lowest cost solar technology for sunny and dry environments,” said Ben Kortlang, Partner of Kleiner, Perkins, Caufield & Byers. “Developers and utilities are choosing Amonix systems because of their 15-year track record in the field, high reliability, ease of deployment and industry-leading efficiency.”
The new investment will boost Amonix’ balance sheet and potentially improve customer confidence in using the company’s technology for larger scale solar projects.