Suniva secures $50 million for crystalline solar cell plant

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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.

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