Solaria Corporation, a global provider of solar module technologies, announced that the company has raised $23 million in growth funding from a syndicate of leading strategic and financial investors including Presidio Partners, Kline Hill Partners and Structural Capital. This infusion of capital will enable Solaria to expand its manufacturing capacity globally and in the United States; an expansion to the company’s production facility is in the works.
Solaria’s flagship product, the PowerXT module –60 cell equivalent, with a black back sheet– are built on the company’s proprietary technology, which uses advanced cell interconnect and module production processes. Through these patented technology / techniques, Solaria has created a new standard in PV module efficiency and reduction in system costs. Providing labor savings on racking and system components, PowerXT modules significantly boost power generation while eliminating reliability challenges that can reduce conventional PV modules’ long-term performance. This ensures that solar installers maximize power deployment on customer roofs – enabling them to install attractive, cost-effective distributed power plants that accelerate payback period and profitability.