Funding News: Solexant, Nanostellar, EnerTech Capital
Dan Primack at PeHub pulls two cleantech fundings out of his Regulation D filings grab bag today, while VentureWire reports on an energy fund from EnerTech Capital.
Solexant, a Sunnyvale, Calif.-based startup that’s developing efficient, low-cost solar cells, has raised $4.3 million in a Series A round of funding, Primack reports. Investors included Trident Capital, Firelake Capital and X/Seed Capital.
The solar industry is expected to triple in the next three years, from about $13 billion to $40 billion in revenue, analyst Jesse Pichel of Piper Jaffray (PJC) recently told USA Today, and Solexant is just one of many trying to make solar cells more efficient. The company is researching ways to “harvest energy from the entire solar spectrum,” according to its Web site.
Nanostellar, a Redwood City, Calif.-based developer of engineered nano-materials for emissions control, is also raising funds — a $3 million bridge financing round, says PeHub.
Nanostellar has previously raised about $10 million in VC dollars from 3i Group, AsiaTech Management Monitor Ventures, Firelake Capital Management, Big Basin Partners, and Modu Angel Fund and Khosla Ventures. Nanostellar claims their patent-pending process and materials improve the performance of diesel emissions control catalysts by 25-30 percent. Check out CNET’s video that provides an overview on the company.
Lastly, VentureWire says that energy investment firm EnerTech Capital has raised $75 million of a $250 million planned third fund. LPs are reported to be California Public Employees’ Retirement System, Dow Ventures, Kuwait Petroleum Co., and Masdar Clean Tech Fund.
[...] systems raised $27.2 million, while Solexant, which is developing efficient, low-cost solar cells, raised $4.3 million. Also last week Plextronics raised $20.6 million for its organic semiconductors, which can be used [...]