March 27 (Renewables Now) - US company mPower Technology Inc has successfully closed a Series A funding round raising an additional USD 1.85 million (EUR 1.67m) it will use for the development, testing and sales of it proprietary solar cell technology.
Including the latest capital injection from Cottonwood Technology Fund, NMA Ventures and various angels investors, mPower has raised a total of USD 4.35 million in Series A funding, the company said this week.
mPower will use the proceeds to support the development of the DragonSCALES (SemiConductor Active Layer Embedded Solar) solar cell technology. The innovative design consists of miniature solar cells forming a flexible interconnected mesh. It is resilient and light-weight and can be rapidly deployed at “extremely low cost”, according to the developer.
The technology has its application in the space solar power market, residential and commercial rooftop systems and the internet of things (IoT).
(USD 1.0 = EUR 0.903)