Friday, January 9, 2009

SolFocus Collects $47.5M

Mountain View-based SolFocus, a developer of concentrating photovoltaic systems, has raised $47.5M in a Series C funding round, the firm said today. The company said that the round was led by Apex Venture Partners, and also included follow on funding from New Enterprise Associates, NGEN Partners, and others. SolFocus said the first close will be followed by a second close of funding later this month. Along with the funding, the firm said that founder and CEO Gary D. Conley will replaced by Mark Crowley, with Conley becoming Chairman of the board. SolFocus will use the new funding to expand its manufacturing operations. More information »