Swiss solar thermal panel maker TVP Solar SA said today it had closed a CHF-6.6-million (USD 7m/EUR 5.4m) equity financing for the construction of its first manufacturing facility.
Three investors from Brazil, Italy and Kuwait took part in the funding round, which is an extension of TVP Solar's CHF-12.6-million round B financing round from last month.
Most of the proceeds will go support TVP's first volume production plant, which will have thee manufacturing lines. With a nominal capacity of 150,000 sq m (1.6m sq ft) annually, the plant will make photovoltaic (PV) panels for thermal applications of up to 250 degrees Celsius.
The company has already chosen manufacturing equipment suppliers and expect to launch production in June 2014, its Chief Technology Officer (CTO) Vittorio Palmieri said.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.