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Sencera raises USD15.6m for thin-film silicon cells
North Carolina thin-film solar firm Sencera is receiving USD15.6m in Series B funding from previous investor Quercus Trust to partly finance a USD37m factory in the company’s home town of Charlotte. The money will pay for the factory’s first production line, which Sencera hopes will produce 35MW of solar cells beginning next year. Quercus Trust is providing the funding in three separate payments contingent on Sencera hitting production targets. Sencera says it has already received the first payment and expects the second soon.
Deal Details
- Status completed
- Amount US$15.6m
- Investor Quercus Trust
Sencera makes thin-film solar cells from nanocrystalline silicon and non-crystalline amorphous silicon. The firm sprays the silicon in the form of plasma onto the solar cell substrate, a deposition technique which it claims is between eight and 10 times faster than rival thin-film processes. The company received USD3.6m in its first funding round from Quercus Trust in April.
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