AQT Solar Secures $18.7M Series B

AQT Solar, a leading developer of low-cost CIGS (copper-indium-gallium-diselenide) thin-film solar cells, has announced that it has secured $18. 7 million in venture funding to deploy the second CIGS line at the Sunnyvale facility of the company The investment in Series B, which was at a higher valuation rate for the company than in the previous round of funding, brings the total amount of capital that AQT has attracted to nearly $40 million to date.

This funding round follows the year of consistent progress and growth of the AQT The Sunnyvale site now operates around the clock and will have an installed solar cell capacity of more than 30MW by mid-year. AQT cells are currently being used in 100 watt CIGS modules that are being deployed on the field. Up to 180 watt CIGS modules powered by AQT cells are expected to be available on the market by the end of the year.

IGCS 2 of the AQT 0 technology enables continuous in-line production, which simplifies and streamlines the manufacturing process, resulting in the highest projected capital efficiency in the industry, while minimizing the cost of components. This manufacturing path has resulted in the development, shipment and scale of the CIGS module product in just four years and for less than $40 million in funding, making AQT the market leader in time-to-market and cost-to-market products.

“Our business strategy is uniquely positioning us to compete and grow in an increasingly crowded, noisy and aggressive market,” said Michael Bartholomeusz, CEO of AQT Solar. “AQT is laser focused on what we believe to be key to success in any commodity industry: leverage, cost, risk mitigation, partnerships and future proofing. “That’s right.

About the Solar AQT

Founded in 2007, AQT Solar deploys a proprietary process on proven production platforms to produce high-performance, low-cost CIGS thin-film solar cells. Visit qtsolar Com