Amonix Secures US $129.4M in Financing

Concentrating photovoltaics (CPV) manufacturer Amonix Inc. has raised a US $129.4 million Series B financing round led by Kleiner, Perkins, Caufield & Byers. Other participants in the round include Adams Street Partners, Angeleno Group, PCG Clean Energy & Technology Fund, Vedanta Capital LP, New Silk Route, The Westly Group, and current investor MissionPoint Capital Partners. Amonix will use the proceeds to accelerate deployments of its CPV systems and expand manufacturing capacity.

Amonix previously raised $25 million in Series A funding from Goldman Sachs Group and MissionPoint Capital, and also received $15.6 million in grant funding through the U.S. Department of Energy Solar America Initiative (SAI).

In early 2010, Amonix received $9.5 million in stimulus funding as part of the federal Recovery Act’s Advanced Energy Manufacturing Tax Credit, which will lead to 269 new clean energy manufacturing jobs in Nevada and 167 new jobs in Arizona.

Brian Robertson, Amonix’ CEO said that the new round of funding reinforces the long-term commitment Amonix has to its customers and projects in the field.

“Our customers can rely on our strengthened balance sheet, proven track record in the field, and an industry-leading warranty package,” Robertson said. “Our customers realize the benefit through lower cost project financing.”

Previous articleAnalyst: SMA dominated PV inverters in 2009, but others gaining
Next articleWindurance Gets ISO 9001 Certification

No posts to display