Solaria obtains USD 23m to expand PV module production

Solaria PV installation. Source: Solaria.

January 11 (Renewables Now) - California-based solar technology firm Solaria Corp announced today that it has raised USD 23 million (EUR 19m) in growth funding to expand its manufacturing capacity both at home and globally.

The company secured the funds from a syndicate of strategic and financial investors including Presidio Partners, Kline Hill Partners and Structural Capital.

Solaria said it has already started an expansion to its production facility. Its flagship product is the PowerXT solar photovoltaic (PV) module that is optimised for residential deployment. A 350-Wp version of the solar panel was introduced last month.

“This new infusion of capital puts us on track to deliver our modules to solar installers, distributors and property owners around the nation, and eventually, around the world,” said CEO Suvi Sharma.

(USD 1.0 = EUR 0.831)

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