AVA Solar Completes US $104M Equity Financing

AVA Solar, an advanced thin-film photovoltaic (PV) module manufacturer announced that it has completed its second institutional equity round of financing. This US $104 million funding round was led by DCM and included new investors Technology Partners, GLG Partners and Bohemian Companies LLC as well as prior investors, including Invus LP.

The funds will be used to complete AVA Solar’s first production facility in Longmont, Colorado, which will have the capacity to produce 200 megawatts (MW) of thin-film PV modules annually.

“In the last few years, we’ve seen many companies with plans to commercialize products for the solar industry. Our commitment to AVA Solar is founded both on the commercial readiness of the product and their management and engineering team’s demonstrated ability to deliver,” said Tom Blaisdell, a general partner at DCM.

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