Washington State, United States [RenewableEnergyWorld.com] Infinia Corporation announced that it secured an additional US $7 million at the second close of its Series B financing. This investment brings the total Series B financing for the company to US $57 million.
The second close was led by Foxconn Technology Group with participation from another undisclosed investor. The proceeds from the Series B financing will be used to fund the large-scale production and global launch of the Infinia Solar System.
“We are very pleased by Foxconn’s decision to invest in and work with us,” said J.D. Sitton, CEO of Infinia. “Securing the involvement of a manufacturer and technology provider of Foxconn’s stature validates two key elements of our business plan. First, that volume manufacturing is a key driver in being able to harvest solar energy on a capital-efficient basis. And second, that the Asia-Pacific market is going to be a very attractive market for our product.”