Investors Mohr Davidow Ventures and OnPoint Technologies, alongside aeris CAPITAL, have pumped US$20 million into thin-film company, Nanosolar, to aid expansion. At the beginning of this year, there was a great deal of media speculation surrounding the company’s ability to produce a competitive product amid management changes.
Nanosolar declares the last six months to be a success with the completion of a number of projects to strengthen its position in the market. “This represents the beginning of an exciting new period of growth for Nanosolar,” said Nanosolar CEO Eugenia Corrales. “With our team firmly entrenched, we will be unveiling new projects and new partners as part of our commitment to deliver the industry's lowest cost thin film solar solution.”
“We are excited to renew our investment and strongly believe in Nanosolar's technology and the team's ability to compete with current market leaders by delivering on its low cost promise,” said Erik Straser of Mohr Davidow Ventures.
“We believe solar printing is the future of low cost harvesting of solar energy,” said Erik Oldekop of aeris CAPITAL. “We are eager to be a part of Nanosolar's growth and validation.”