May 15 2010
Solar photovoltaic modules designer and manufacturer Solaria Corporation has secured $45 million in a round of financing headed by DBL Investors and CMEA Capital. The other participants in the financing round include Savitr Capital, Mitsui Ventures, NGEN Partners and Sigma Partners.
The money will be used by Solaria Corporation to meet the growing demand meant for solar modules that are cost-effective for utility and large scale projects.
The CEO of Solaria Corporation Daniel Shugar stated that the company is providing cost-effective, reliable, crystalline efficient solar modules to solar integrators, project developers and utilities located in Asia, Europe and North America.
DBL Investors Partner Mark Perutz commented that the new approach of Solaria Corporation gives the company a considerable production cost advantage even without the need for heavy capital investment.
The modules of Solaria Corporation are certified to IEC61215 and UL1703 standards and are designed for ground-mounted tracking systems. The proprietary manufacturing processes of the company require only minimal capital expenditure.
Source: http://www.solaria.com/