The World's #1 Renewable Energy Network for News, Information, and Companies.

GreenVolts Secures $10 million Series A Financing

Greenlight Energy Resources, an operator of renewable energy projects and an investor in early stage renewable energy companies, Avista Corporation, and several other investors have put $10 million in Series A funding in GreenVolts, a leader in high concentrating photovoltaic technology and wholesale distributed energy.

Earlier this year, GreenVolts was chosen by Pacific Gas & Electric Company to build GV1, a two-megawatt facility. In addition to the financing, the company announced that its CarouSol tracking system has begun producing energy at Avista's Clean Energy Test Site, and that it is on track for deployment of its GV1 plant in late 2008.

GreenVolts believes that utility-scale distributed generation is the key to a future for clean, renewable energy. The company's CarouSol tracking system concentrates 625 times the sun onto its solar cells, producing breakthrough efficiency using less land and half the capital investment of competitive technologies.

The design of this system also allows it to be plugged into the grid nearer to the demand than any other technology, delivering up to 20 megawatts of solar energy where it is needed most.

GreenVolts announced these milestones from the stage at the annual California Cleantech Open (CCTO) awards ceremony, held at the Palace of Fine Arts in San Francisco. The company won the renewable energy category at last year's event and received the 2007 CCTO Alumni award this year for progress made in customer acquisition and funding.

“GreenVolts has shown steady progress on this promising technology with its keen focus on serving utilities,” said Roger Woodworth, VP for Sustainable Energy Solutions at Avista Utilities and a strategic adviser to GreenVolts. “We’re pleased to continue our support as a minority investor in GreenVolts and its capable leadership team.”

RELATED ARTICLES

Students and solar powered cars with energy storage

Rain or Shine, Students Keep Their Solar Race Cars Going with Energy Storage

Wayne Hicks, NREL Teegan and Kira Cordova love the original Star Trek TV series. That much is obvious. The eighth-grade twins from Ken Caryl Middle School in Littleton are wearing the uniform tunics from the 1960s show — Teegan's in red and ...
MIT Clean Energy Prize

MIT Clean Energy Prize Awards $400,000 to Energy Efficiency, Renewable Ventures

Eric Kirchblum, MIT Earlier this month, the MIT Clean Energy Prize (CEP) announced the winners of the 2015 competition at the Eversource MIT Clean Energy Prize Showcase & Grand Prize Awards Ceremony, where it awarded over $400,000, includi...

The Big Question: What Is the Most Frustrating Part about Working in Renewable Energy?

Renewable Energy World Editors

Every industry has its challenges and misunderstandings. Sometimes the obstacles we face in simply trying to do our jobs can be very frustrating.

ViZn Flow Batteries

ViZn Turns to Jabil to Meet Growing Demand for Flow Batteries

Andrew Burger, Correspondent Energy storage startup ViZn, developer of advanced zinc-iron flow battery technology, is scaling up the size and scope of its operations as it works to meet growing demand from a variety of customers both in the U.S. and ab...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 3
1505REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

FEATURED PARTNERS



EVENTS

PV-301: Advanced PV Design & Installation

This highly desirable and advanced course is intended for the profession...

PV-401: Advanced Field Training

Real world on the job solar installation, training, and experience is th...

PV-201: Introduction to PV Design & Installation

PV 201 Introduction to PV Design & Installation is simply the best i...

COMPANY BLOGS

Five Reasons to Go Solar Now

Solar’s popularity has skyrocketed recently, thanks to a price dro...

Community Solar Solutions Appeal to Eco-Conscious Millennials

Tech savvy and convenience oriented, the millennial generation is the mo...

Building Rapport

How do you build rapport with your prospect? This is a question that I a...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS