Siva Power, a San Jose, California-based solar energy company, raised $10m in Series D financing.
In details, the company raised $4m in funding from DBL Investors, Medley Partners and Acero Capital, converted $3m in debt financing previously received from Trident Capital, DBL, Medley Acero, and Wuxi, had received $3m from the U.S. Department of Energy SunShot Initiative.
The company intends to use the funds to start building a high capacity co-evaporation source to construct the rest of its full-scale production line for a 300MW factory (Siva is considering various locations —with California and other global sites on the short list — for establishing its 300MW factory, evaluating criteria including ease-of-manufacturing and favorability towards solar energy).
Led by CEO Brad Mattson, Siva Power develops advanced solar module and manufacturing technology and manufactures low-cost solar panels.
FinSMEs
31/01/2015