Evergreen Solar Secures Silicon Valley Funding

August 31, 2004 [] Photovoltaics manufacturer Evergreen Solar secured a US$5 million credit facility from Silicon Valley Bank, the primary banking subsidiary of Silicon Valley Bancshares. The revolving credit line is available to the company for a period of twelve months, and the funds will be used to further support the company’s expansion plans. Evergreen is based in Massachusetts, and produces string ribbon solar photovoltaic (PV) cells, a cross between thin-film technology and traditional silicon wafers, for use in solar modules.