Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Orionsolar $1M Series B Funding From 21Ventures

Abstract:
New Second Generation Photovoltaic Solar Energy Cell Reduces Cost Of Producing Solar Electricity At Home By As Much As 50 Percent

Orionsolar Marks Major Milestone With $1M Series B Funding From 21Ventures

New York and Jerusalem | Posted on March 21, 2006

OrionSolar® Photovoltaics, Ltd., a leading global developer of solar energy photovoltaics, today announced that it has completed development of an advanced second generation photovoltaic solar energy cell. The new patented technology significantly reduces the high cost of producing solar electricity with polycrystalline silicon photovoltaic cells by over 50 percent. In marking today's milestone, OrionSolar also announced the receipt of $1 million Series B financing from its sole institutional investor, New York-based 21Ventures LLC.

The company will use this upfunding to finance its marketing initiatives and to develop the pilot production and manufacturing program for the new energy cell. Monies will also be used for additional R&D activities related to optimizing OrionSolar's solar technology for solar home systems in Developing Nations and "Do It Yourself" home installation. OrionSolar's technology will be ready for market in 2007.

"The solar energy market is growing at a rate of 35 percent annually, but it still only accounts for less that 0.5 percent of the world's energy consumption," discussed David Anthony, Managing Partner of 21Ventures. "In the past, solar energy was hindered by the prohibitive costs of solar technology, but with the development of OrionSolar's new photovoltaic cell, this is no longer an issue. Given this combined with the worldwide need to eliminate our dependence on fossil fuels, 21Ventures believes OrionSolar is poised for tremendous success. They have strategically important Intellectual Property aimed at a very large global market opportunity and are supported by the most talented engineers and scientists in the solar energy industry."

####

About OrionSolar:
OrionSolar Photovoltaics, Ltd. is a leading global developer of low cost energy cells. The company's innovative, patented second generation dye cell photovoltaic technology enables the widespread use of solar energy for commercial consumer applications worldwide by significantly reducing the high costs of today's traditional first generation polycrystalline silicon photovoltaic cells. Founded in 2003, the technology company is headquartered in Jerusalem with a regional office in London.

For more information, please click here.

About 21Ventures:
Founded in 2003, 21Ventures LLC invests in seed and bridge financing for both private and public technology ventures in Israel and non-core technology regions across the U.S.; its goal is to bridge the widening gap between "friends and family" funding and initial professional capital. 21Ventures focuses on portfolio companies in the Energy, Financial Services, Information Technology, Life Science, Media, Semiconductor and Telecommunication markets. In addition to its VC activities, 21Ventures designs and delivers entrepreneurial training programs for scientists, engineers and technology developers worldwide. The company is headquartered in New York City and has made eleven investments to date.

For more information, please click here.

Forward-Looking Statements
Estimates, expectations and business plans are forward-looking statements. Actual future results, including product introduction schedules, market receptiveness, regulatory approvals and commercial viability, could differ materially due to changes in conditions affecting the industry, political, legal or regulatory developments, and market conditions.

Contact:
Steven M. Plavny
770-235-5918
smp@21Ventures.net

Copyright © 21Ventures LLC. OrionSolar is a trademark of OrionSolar Photovoltaics, Ltd.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Products

STMicroelectronics Peps Up Booming Social-Fitness Scene with Smart Motion Sensors for Better Accuracy, Longer Battery Life, and Faster Time to Market January 2nd, 2017

Cutting-edge nanotechnologies are breaking into industries November 18th, 2016

STMicroelectronics’ Semiconductor Chips Contribute to Connected Toothbrush from Oral-B That Sees What You Don’t: Microcontroller and Accelerometer help brushers clean their teeth more effectively October 4th, 2016

Particle Works launches range of high quality magnetic nanoparticles August 31st, 2016

Investments/IPO's/Splits

Harris & Harris Group Issues Its Financial Statements as of December 31, 2016, Posts Its Annual Shareholder Letter, And Will Host a Conference Call for Shareholders on Friday, March 17, 2017 March 15th, 2017

Harris & Harris Group Announces the Filing of Preliminary Proxy Materials Detailing Its Proposed Conversion From a BDC to a Registered Closed-End Fund January 24th, 2017

Harris & Harris Group Issues Reminder for Shareholder Update Call on January 10, 2017 January 10th, 2017

Arrowhead Provides Response to New Minority Shareholder Announcement January 7th, 2017

Announcements

Caught on camera -- chemical reactions 'filmed' at the single-molecule level March 22nd, 2017

Rare-earths become water-repellent only as they age March 22nd, 2017

Pulverizing e-waste is green, clean -- and cold: Rice, Indian Institute researchers use cryo-mill to turn circuit boards into separated powders March 21st, 2017

CRMGroup in Belgium uses a Deben three point bending stage in the development of new steel & coated steel products for automotive and other industrial applications March 21st, 2017

Energy

Researchers develop groundbreaking process for creating ultra-selective separation membranes: Discovery could greatly improve energy-efficiency of separation and purification processes in the chemical and petrochemical industries March 15th, 2017

New nanofiber marks important step in next generation battery development March 14th, 2017

Perovskite edges can be tuned for optoelectronic performance: Layered 2D material improves efficiency for solar cells and LEDs March 10th, 2017

Space energy technology restored to make power stations more efficient: Scientists use graphene to reinvent abandoned heat energy converter technology March 7th, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project