What is SoloPower?
SoloPower Systems, Inc. is a specialized manufacturer of lightweight, flexible, and high-performance thin-film photovoltaic (PV) modules. By utilizing proprietary Copper Indium Gallium Selenide (CIGS) technology, the company provides versatile solar energy solutions designed specifically for large-scale rooftop installations. A core differentiator for SoloPower is its focus on eliminating traditional, heavy rack-mount systems, which significantly reduces installation time and preserves the structural integrity of the host building. This design-centric approach positions the company as a preferred partner for commercial and government sectors seeking to integrate solar power into existing infrastructure without the logistical burdens of conventional silicon-based panels.
How much funding has SoloPower raised?
SoloPower has raised a total of $348.4M across 12 funding rounds:
Series B
$30M
Series C
$48.2M
Debt
$44.9M
Private Equity
$51.6M
Multiple Rounds
$143.9M
Multiple Rounds
$29.9M
Series B (2007): $30M with participation from Convexa Capital Ventures
Series C (2008): $48.2M led by Convexa Capital Ventures, Hudson Capital Group, Firsthand Technology Value Fund, and Crosslink Capital
Debt (2010): $44.9M supported by Hudson Clean Energy Partners
Private Equity (2010): $51.6M featuring Hudson Clean Energy Partners
Series D (2011): $51.6M backed by Crosslink Capital, Convexa Capital Ventures, and Hudson Clean Energy Partners
Private Equity (2011): $13.5M with participation from Crosslink Capital
Private Equity (2011): $15M, investors not publicly disclosed
Private Equity (2011): $43.7M supported by Thomas Weisel Partners, Hudson Clean Energy Partners, Greentech Capital Advisors Securities, LLC, Convexa, and Crosslink Capital
Debt (2011): $20.1M featuring Hudson Clean Energy Partners
Debt (2012): $7.1M backed by Hudson Clean Energy Partners
Debt (2012): $10.8M with participation from Hudson Clean Energy Partners
Series E (2012): $12M led by Hudson Clean Energy Partners
Key Investors in SoloPower
Hudson Clean Energy Partners
A leader in the sustainable investing sector, this firm specializes in mobilizing capital for low-carbon energy adoption and renewable technology infrastructure.
Crosslink Capital
An investment firm that partners with ambitious founders to build category-defining companies, leveraging a proprietary network to support growth-stage ventures.
Convexa Capital Ventures
A venture capital entity focused on providing strategic financial support to innovative companies within the technology and consumer services sectors.
What's next for SoloPower?
With the recent strategic investment, SoloPower is well-positioned to accelerate its market penetration and optimize its manufacturing throughput. The company's focus remains on scaling its CIGS technology to meet the rising demand for cost-effective, building-integrated solar solutions. Future strategic initiatives will likely prioritize expanding its footprint in emerging economies and enhancing the efficiency of its thin-film modules to maintain a competitive edge against traditional solar providers. By leveraging its established network of institutional backers, SoloPower aims to solidify its role as a key contributor to global electrification and low-carbon energy adoption.
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