Prism Solar Completes $4M Funding Round
HIGHLAND, N.Y., Dec. 5, 2011 — Prism Solar Technologies Inc. announced the completion of a financing round of more than $4.4 million. With the funding, the company expects to bolster its holographic film and bifacial photovoltaic module pilot manufacturing capacity up to 3 MW in 2012.
The privately held company produces solar modules based on holographic optics to increase kilowatt-hour output.
“Prism has successfully met several key milestones in technology and manufacturing, providing our investors with the confidence to fund the operations and growth needed in the coming year as Prism’s holographic solar product is commercialized for the solar market,” said Randy Stewart, the company’s CEO and president.
Prism Solar focuses on markets that benefit from the hologram’s performance and aesthetic features: improved energy production on a kilowatt-hour basis even in cloudy conditions, improved performance where various mounting angles are required, and the ability to capture light on the rear side of the module such as on canopies, electric vehicle charging stations, and on highly reflective surfaces, such as white rooftops.
The financing round was led by I2BF Venture Capital, a firm specializing in innovative renewable energy investments.
For more information, visit: www.prismsolar.com
MORE FROM PHOTONICS MEDIA