Ontario, Canada [RenewableEnergyWorld.com] 6N Silicon Inc. announced that it has secured up to US $20 million in second round financing. This investment round was led by Good Energies.
In addition to Good Energies, both major investors from the company’s first round of private financing, Ventures West Management and Yaletown Venture Partners, participated in this round of financing. The investment will be used by 6N to move its business into commercial production. The global market for solar grade silicon feedstock in 2006 was approximately US $2.3 billion and is projected to grow to US $10.4 billion by 2010.
“Good Energies conducted a considerable amount of due diligence on our company and our process. This investment, therefore, is a significant endorsement by one of the industry’s most respected investors, and is an important step towards achieving our goal of becoming a leading supplier of solar grade silicon within the next three to five years,” said Paolo Maccario, CEO of 6N Silicon.