Solar module manufacturer Solaria Corporation has announced it has raised $23 million in growth funding from a syndicate of leading investors to expand its manufacturing capacity globally and in the US.
The funding was raised from strategic and financial investors including Presidio Partners, Kline Hill Partners and Structural Capital. The company is also expanding its production facility. The company’s PowerXT modules are optimised for residential deployment.
“Solaria has designed and perfected extremely high-efficiency PowerXT modules” said Solaria CEO Suvi Sharma, “and we’re well-positioned to exponentially ramp up production. This new infusion of capital puts us on track to deliver our modules to solar installers, distributors and property owners around the nation, and eventually, around the world.”
Todd Jaquez-Fissori, Managing Partner at Structural Capital, added that Solaria’s extremely high efficiency solar modules are not only exceedingly powerful but are also very aesthetic. Solaria’s products are robust and attractive and the company places a high emphasis on quality, profitability and performance. PowerXT is the company’s flagship product, built on the back of its proprietary technology which uses advanced cell interconnect and module production processes.