MiaSole, a developer of low-cost, high-efficiency thin-film solar panels, has received a $55 million grant to spur its business to the next level of growth. The funding will help the company to develop the commercial part of its business with traditional flexible and glass-on-glass products.
John Carrington, MiaSole’s CEO, stated that the funding has been awarded at a right time when the company has started the production of copper indium gallium selenide (CIGS) thin-film photovoltaic solar panels with 14% efficiency.
MiaSole has enhanced the thin-film solar panel efficiency by over 30% from 2011 to 2012. Till date, the company has made more than 55 MW of solar module installation for several projects across Asia, Europe and North America. The CIGS thin-film solar technology is also used for high-efficiency flexible roof-top system that will meet the requirements of the developing residential and commercial markets.
Vantage Point Capital Partners’ Managing Director, Stephan Dolezalek, commented that MiaSole has the right technology, the right strategy and the right team to set a new standard in the solar production in terms of performance, capital efficiency and cost.
The company’s ability to provide 14% in thin film technology production with demonstrated potential to achieve 17% highlights the growth of MiaSole. The company’s continuous progress in the business and its ability to offer advanced CIGS thin-film solar technology enable delivery of electricity at lowest cost to its customers, concluded Carrington.
Source: http://www.miasole.com/