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© stevanovicigor / dreamstime.com Embedded | June 05, 2012

Nanosolar raises USD 70 Million in New Capital

Nanosolar Inc. has raised $70 million in new capital. The financing will be used to expand production of thin film solar cells and panels, support research and development.
The over-subscribed round was funded by current and new investors, including OnPoint Technologies, Mohr Davidow Ventures, and Ohana Holdings LLC, and international Family Offices.

“We strongly believe in Nanosolar’s technology and the company’s ability to deliver the most cost-efficient utility-scale solar electricity for commercial and defense markets,” said John Trbovich, of Arsenal Venture Partners, the manager of OnPoint Technologies, Inc.

“We are pleased to see the continued trust that our investors place in our company. The Family Offices that joined the round have a long-term view of the solar market and will help Nanosolar scale its business faster,” said Guido Polko, executive chairman of Nanosolar’s board of directors. “With this latest round of funding, Nanosolar will be able to continue ramping up its production capabilities and achieve a faster time-to-market with its products. The money also will allow us to deepen our R&D efforts aimed at achieving even greater efficiency, and significantly expand our employee base in both Europe and the United States.”

“Nanosolar has proven that it continues to effectively execute on its product roadmap and has established itself as a provider of world-class solar solutions,” said Eugenia Corrales, CEO of Nanosolar.”
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November 11 2018 12:47 pm V11.8.0-1