Feb 13 (Renewables Now) - Fayetteville, Arkansas-based start-up WattGlass last week said it has closed a Series A funding round of undisclosed amount, led by DSM Venturing.
The company is working on an anti-reflective and anti-soiling coating for solar panels that uses water-based chemistry to improve the performance of solar modules.
The investment from DSM Venturing has become possible after WattGlass was among the winners of the 2016 SunRISE TechBridge Challenge. The latter is a competition for solar energy innovations, organised by Netherlands-based science company Royal DSM, Fraunhofer and Greentown Labs.
"This funding provides us the resources needed to commercialize the research we are conducting under the NSF [National Science Foundation] and DOE [Department of Energy] grants, and to bring our novel product to customers," said WattGlass chief executive Corey Thompson. According to the announcement, the company wants to set up domestic production of its chemical blends for shipment to customers globally.
WattGlass has received support for the development of its technology from the NSF Small Business Innovation Research (SBIR) programme, the SunShot programme, and the Arkansas Economic Development Commission (AEDC).