Pyron Solar, a San Diego-based company that is developing technologies based on concentrating photovoltaics (CPV), announced on September 9th the second close of its Series A round of financing. This funding was provided by Switzerland-based New Energies Invest Ltd. (NEI). According to the San Diego Business Journal, this investment was $1 million, with an additional $1 million option by NEI. Pyron Solar had previously received a $2 millon investment from NEI in December, 2007.
Doug Carriger, CEO of Pyron Solar said, "We are pleased with the follow-on investment from NEI as this round helps us continue to fund a full scale demonstration of Pyron’s advanced technology in San Diego. The project represents an important milestone in the industry, because efficiency still matters. Our products will be shown to provide a greater return on investment than utility scale solar projects featuring low cost low efficiency technologies."
Pyron Solar was founded by John and Inge Laing in 2004. The company has developed the Pyron Solar Triad, which includes a proprietary lens system (HE Optics System), a dual axis tracking system, and the use of specially-treated water as a passive coolant of the PV cells. An illustration of the HE Optics System is shown below:
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