Monday, September 22, 2008

Greenvolts Charges Up With $30M

San Francisco-based GreenVolts, a developer of solar concentrator technology, announced Monday that it has raised $30M in a Series B funding. The round came from Oak Investment Partners. According to the firm, the funding will go to build out its organization, advance R&D, and scale capacity for the firm's concentrating photovoltaic technology. GreenVolts develops utility-scale, solar power technology. The firm said that part of the funding will also go towards a power plant agreement it has with Pacific Gas & Electric. GreenVolts had raised $10M in a Series A from Greenlight Energy Resources and Avista last year; it was unclear if those firms participated in this new round. More information »