Solantro Semiconductor Secures $10 Million Series A Financing for Rollout of Chipsets for Solar PV Module Integrated Electronics
Solantro Semiconductor Corp. announced the completion of its Series A Financing in the amount of $10 Million. This funding was led by Black Coral Capital, and included participation from Presidio Ventures (a Sumitomo Corporation company), Business Development Bank of Canada (BDC) and Export Development Canada (EDC).
Solantro designs, manufactures and markets semiconductor chipsets and Reference Designs for use within distributed Solar PV power conversion equipment. Solantro’s chipset-based solutions redefine the economic model for PV module manufacturers while providing for higher energy yields and significantly reduced costs, time and complexity associated with PV system design and installation. Distributed, module-integrated, power conversion solutions accelerate the global deployment of Solar PV by optimizing the economics of PV installations.
Solantro has established product development partnerships with select, global PV module and Balance of System (BOS) manufacturers to drive the availability of intelligent power conversion (dc-optimizer, nano-inverter and micro-inverter) solutions in a highly-integrated, scalable form-factor to cost-effectively address traditional c-Si, BIPV and Thin-Film module integrated electronics in power ratings ranging from 50W to +300W.
"The Solantro team brings a wealth of unique experience and a track record of success in power conversion, RF communications and semiconductor integration to bear to a very important market segment. Highly integrated, chipset-based solutions are acutely required to drive the economics of renewable energy solutions. Solantro is leading the way along this path," commented Christian Zabbal of Black Coral Capital.
"Working with sophisticated and visionary cleantech investors such as Black Coral, Presidio, BDC and EDC provides us with ideal partnerships to bring our disruptive PV module integrated electronic chipset technology to market. These partners share our innovative and compelling view of the evolution of the Solar PV marketplace," said Solantro’s Founder and CEO Antoine Paquin.
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