Solar firm nabs $50M funding, secures 1.35GW supply

July 23, 2007 – Solaria Corp. says it has closed a $50 million Series C round of funding led by Q-Cells AG, the world’s No.2 solar cell manufacturer, which increases the firm’s stake to 33%. Solaria also says it has secured a cell supply agreement with Q-Cells, ensuring access to 1.35GW of power over the next 10 years, to produce >2.7GW of PV modules.

The two firms also work together to commercialize and scale Solaria’s PV technology platform and provide support services, and access to Q-Cell’s network of European partners.

In addition to Q-Cells, others joining the Series C round included existing investors Sigma Partners, NGEN, and Moser Baer.

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