OptiSolar Quietly Piling On Cash
OptiSolar is a thin film solar maker with massive claims, like a 550 MW photovoltaic farm in San Luis Obispo County that it says is in the works. And the Hayward, California-based startup appears to be raising loads of cash to try to implement its aggressive plans. According to a regulatory filing picked up by Pehub.com OptiSolar has recently raised $77.8 million from investors, on top of a $132 million round raised back in April.
The most recent quarterly MoneyTree Survey noted OptiSolar’s $132 million as the largest round of last quarter. We noted earlier this year that in January OptiSolar had raised $38.3 million according to regulatory filings we found.
So over the past several months the company appears to have raised over $200 million, which makes it one of the more well-funded cleantech startups around. While other solar thin film firms like Nanosolar, Heliovolt, and Miasole have raised sizable rounds, too, we’re not sure exactly how the company plans to spend the cash. We’ve repeatedly tried to contact the company and are still waiting to hear back.
[...] OptiSolar Quietly Piling On Cash: Analysts are warning that the solar market may cool off with a reduction in government subsidies, but that not chilling the entire solar energy sector. Take the high-flying OptiSolar, a big-talking, thin film manufacturer that claims it has a huge photovoltaic power plant in the works. The company is raising money faster than it can take it to the bank. Earth2Tech estimates the company has piled on about $200 million in recent months, demonstrating the market’s continued excitement with anything solar. (Earth2Tech) [...]
[...] Edison over the next year that it says is worth some $5 million. Xantrex will also be supplying the mysterious and cash-laden OptiSolar with $1.9 million of inverters for that solar company’s planned 50-megawatt solar farm in [...]
I would imagine that if they are building farms to sell the electricity, the cash is for future land purchases, or maybe even the cash needed to complete the necessary land purchases for the initial 550MW already planned.
[...] OptiSolar Quietly Piling On Cash: Analysts are warning that the solar market may cool off with a reduction in government subsidies, but that not chilling the entire solar energy sector. Take the high-flying OptiSolar, a big-talking, thin film manufacturer that claims it has a huge photovoltaic power plant in the works. The company is raising money faster than it can take it to the bank. Earth2Tech estimates the company has piled on about $200 million in recent months, demonstrating the market’s continued excitement with anything solar. (Earth2Tech) [...]
[...] Edison over the next year that it says is worth some $5 million. Xantrex will also be supplying the mysterious and cash-laden OptiSolar with $1.9 million of inverters for that solar company’s planned 50-megawatt solar farm in Sarnia, [...]
[...] Edison over the next year that it says is worth some $5 million. Xantrex will also be supplying the mysterious and cash-laden OptiSolar with $1.9 million of inverters for that solar company’s planned 50-megawatt solar farm in Sarnia, [...]
[...] with this PG&E deal. It validates the company’s claims — and its massive funding. OptiSolar recently raised $77.8 million from investors, on top of a $132 million round raised back in April. Total funding [...]
[...] Topaz plant for another 12-18 months. OptiSolar appears to have already raised enough cash — reportedly close to $200 million — though it won’t comment on its financing. More important than the credit crunch, [...]