Ten K Solar is a Minneapolis, Minnesota-based manufacturer of advanced photovoltaic modules for commercial rooftops, carports and ground-mount applications. The company leverages a low-voltage, cell-independent technology to produce its modules. Founded in 2008 and led by CEO Joel Cannon, Ten K has completed more than 500 installations in the US and in 18 other countries. On January 13, 2016, it received a $25m private equity investment led by Goldman Sachs & Co’s Alternative Energy Investing Group. The company will use the funds to expand its US and international operations. The disclosed financing is an equity investment; no other instruments or investors were specified in the report. tenKsolar designs, manufactures and markets turnkey commercial rooftop photovoltaic arrays based on its proprietary RAIS module technology. Its low-voltage system delivers up to 40% more kWh per square foot than conventional solar offerings and is positioned to lower energy cost, improve reliability and enhance safety. The company emphasizes high energy density, low installation cost and low-voltage safety as key differentiators. tenKsolar has been gaining market share in the commercial rooftop segment and the company says its solution enables customers to be cost-competitive in more markets. The business intends to use new capital to expand production capacity and to scale sales and marketing to grow its customer base and accelerate market penetration. Founded in 2008 and headquartered in Minneapolis, tenKsolar offers a complete PV solution for commercial rooftops.

Total raised

$25M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2016