Nanosolar Announces $300M Additional Funding; Nearly Half Billion Total

Nanosolar Inc. announced that it has raised more than $300 million in its most recent round of financing, bringing the total amount of funding to just under half a billion dollars.

In a blog, the company’s CEO, Martin Roscheisen, stated that the company has had "tremendous demand" for its product that gives utility-scale power producers "the solar panel technology to build and operate cost efficient solar power plants."

It is believed that the new capital will help accelerate production expansion for Nanosolar’s 430MW San Jose factory and 620MW Berlin factory.

In the blog, Roscheisen commented, "As part of the transaction, the boards of directors of AES Corp., the Carlyle Group, EDF, and Energy Capital Partners signed off on investments into Nanosolar through Riverstone Holdings, EDF Renewables, and simultaneously formed AES Solar. A fraction of the oversubscribed Nanosolar equity round also included financial investors such as Lone Pine Capital, the Skoll Foundation, and Pierre Omidyar’s fund as well as returning investors including GLG Partners, Beck Energy, and Conergy founding investor Grazia Equity."