Thursday, September 30, 2010

PVT Solar Absorbs $13.7M

Berkeley-based PVT Solar, a developer of solar energy technology which helps existing solar panels generate more energy and also provides hot water as a byproduct, has raised $13.7M in a Series B funding round. According to the firm, the round was led by Sigma Partners, and also included Khosla Ventures and Energy & Environment Investment, Japan. As part of the funding, the company said it has named Vikas Desai as CEO of the firm. Desai joins the company from Sunpower, where he was VP and General Manager of its residential and light commercial business unit. Khosla led PVT Solar's Series A back in 2009. The firm's co-founders are John Plaisted and Gordon Handelsman. More information »