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08/28/2008 07:45 AM
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Nanosolar Raises $300M From Big-Name Investors
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California-based Nanosolar has completed a $300 million equity financing round, bringing its total funding to date to just below half a billion U.S. dollars.
As part of the transaction, the boards of directors of AES Corporation (one of the world's largest power companies), the Carlyle Group, EDF (the world's largest electric utility), and Energy Capital Partners signed off on investments into Nanosolar through Riverstone Holdings, EDF Renewables, and simultaneously formed AES Solar.
The new capital will allow Nanosoalr to accelerate production expansion
of the company's 430-megawatt (MW) San Jose factory and 620-MW Berlin
factory. Earlier, Nanosolar secured a 50% capex subsidy on its Germany
based factory.
A fraction of the oversubscribed Nanosolar equity round also included financial investors such as Lone Pine Capital, the Skoll Foundation, and Pierre Omidyar's fund as well as returning investors including GLG Partners, Beck Energy, and Conergy founding investor Grazia Equity. The transaction closed in March 2008.
Martin Roscheisen, CEO says, "We are honored to have been selected as the company of choice to partner with by such a distinguished and sophisticated group."
In June Nanosolar announced the development of the industry's first 1 gigawatt production tool.
Website: http://www.nanosolar.com/index.html
