Solaria Corp. of Fremont gets $45-million investment
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Investors gave $45 million to Solaria Corp., based in Fremont, Calif., to fund the firm’s “aggressive growth plans,” the solar company said Tuesday.
Solaria designs and manufactures photovoltaic modules for ground-mounted arrays that track the sun through the day, boosting the amount of energy harvested by up to 30%, the company said. The flat-plate modules are available in 210-, 220- and 230-watt increments.
The company wants to take advantage of increased demand for utility projects or large-scale plans, such as installations on parking lots or at big-box retailers. Solaria has begun shipping its module to North American, European and Asian customers as of late April.
The funding may help California continue to dominate clean-technology investment. In the first quarter of 2010, the state pulled in 32 clean-tech deals worth $487.9 million out of 72 deals worth $733.3 million nationwide.
The Solaria financing round was led by San Francisco-based firms CMEA Capital, which also includes Fremont solar company Solyndra in its investment portfolio, and DBL Investors, which funds Bay Area companies SolarCity and Brightsource Energy Inc.
-- Tiffany Hsu
