Innovalight develops and supplies silicon ink–based high-efficiency solar cell materials and related technology for solar-cell manufacturers. The company focuses on proprietary silicon ink production to improve cell performance. It announced an $18M injection of additional capital to support expansion. The funds are earmarked to expand silicon ink production capacity for customers. CEO Conrad Burke said the capital will allow Innovalight to expand sufficiently to support numerous customer engagements. The company added EDB Investments and Vertex Venture Holdings to an existing syndicate of investors. Innovalight uses liquid processing of silicon to produce nanosize solar particles that form printable solar modules. The company says its silicon "ink" can be painted onto surfaces and is more efficient than crystalline wafers while costing less than conventional panels. Innovalight is advancing development of these flexible, ink-like modules from its Sunnyvale, Calif. base. Financially, the company received $5 million in new financing and had taken in $28 million the previous year for the same project. Past investors include Apax Partners, ARCH Venture Partners, Harris & Harris Group, Sevin Rosen Funds and Triton Ventures. Innovalight competes with other flexible-solar companies such as Konarka, Nanosolar, Miasole, Solyndra, SoloPower and Heliovolt, some of which have raised hundreds of millions for thin-film approaches.

Total raised

$23M

Funding rounds

2

Latest round

Series D

Latest activity

Oct 2010