Chrysalix Energy Announces New Clean Energy Investment in Day4 Energy
Chrysalix Energy Management, a global venture capital firm focused on early-stage clean energy technologies, announced a new investment by Chrysalix Energy II U.S. Limited Partnership in Day4 Energy Inc., a rapidly growing manufacturer of PV modules and concentrators.
Day4 Energy has developed a proprietary technology for contacting and interconnecting crystalline silicon PV cells otherwise referred to as the Day4 Electrode. The Day4 Electrode technology dramatically enhances the performance of mono and poly crystalline silicon solar cells.
The result is both premium flat panel modules characterized by superior power outputs and esthetic appearance as well as an innovative PV concentrator system that generates power at significantly lower costs than other concentrated solar power systems. Day4 is constructing manufacturing facilities and expects to reach commercial production volumes by the second quarter of 2006.
Day4's co-founder and CEO is Dr. John MacDonald, a co-founder of MacDonald Dettwiler & Associates (MDA - TSX). Under the direction of Dr. MacDonald and CTO/co-founder Dr. Leonid Rubin, Day4 has assembled a globally recognized team of solar researchers and operations staff.
"We are looking forward to working with Day4 as it enters production in 2006 and evolves its electrode structures and concentrator systems to reduce the cost of delivered solar power", said Jim Fletcher, Managing Director at Chrysalix Energy.
"Completion of this private placement is an important milestone on the road to commercial launch of our products next year. Our research team has been working towards this moment for number of years and now the time has come. With the solid support of our investors we are well equipped to bring this exciting technology to market", said George Rubin, COO/co-founder of Day4 Energy Inc.
Co-investors in this round include British Columbia Discovery Fund and individuals.