Xunlight Raises $22 Million For Thin-Film Solar

Published Tue, 2008-04-29 14:11 Corporate Finance

Xunlight Corporation has raised $22 million in a Series B financing. The investment was led by Trident Capital, a leading private equity and venture capital firm that has over $1.6 billion under management. Existing investors, Emerald Technology Ventures and NGP Energy Technology Partners, participated in the round. The proceeds will be used to build commercial manufacturing capacity for the production of lightweight and flexible thin film silicon solar modules.

Founded as a technology spin-off from the University of Toledo, Xunlight commercialized its technology with significant assistance from the State of Ohio’s Third Frontier Project. In a press conference to be held at 10:15am today at Xunlight headquarters, Ohio Governor Ted Strickland will explain how the State of Ohio’s investment in technology has created high quality Ohio jobs.

Emerald Technology Ventures, the lead investor in the Series A financing, increased its equity position in the company in this round.

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