SEMPRIUS RAISES $6.4 MILLION SERIES B ROUND OF FINANCING
Funds Will Further the Development of Solar Modules
June 9, 2009
Semprius, Inc., a semiconductor technology company developing a novel transfer printing technology for the manufacture of advanced semiconductor devices, announced today it has closed a $6.4 million Series B round of venture funding. Existing investors ARCH Venture Partners, Applied Ventures, Illinois VENTURES and Intersouth Partners were joined by In-Q-Tel and GVC Investment Fund.
The initial focus of Semprius’ technology is on the production of low cost, high performance solar modules for utility scale power generation. The unique module design and low cost assembly technology enables energy production at wholesale rates without the need for government subsidies. The Series B funding will be used to complete development and begin field deployment of solar modules to selected customers.
“We’re delighted to have attracted new investors to help us grow the company, and to get such strong support from our existing investors,” said Joe Carr, President and CEO of Semprius, Inc. “Our current focus on photovoltaic products for solar modules represents an enormous market opportunity and we are well-positioned to take advantage of this growing need.”
“Semprius has made great progress over the last few years and we’re excited to continue our support of the company” said Kip Frye of Intersouth Partners. “This company is developing truly breakthrough technology for solar and other important markets.”
Semprius’ technology enables the placement of nearly any high performance semiconductor onto any target substrate, greatly broadening the options available to designers of advanced electronic devices. For many existing designs, the technology can enable a manufacturing process that is faster and far less expensive. It can be applied to a number of markets, including solar modules, electronic displays and wireless devices.
About Semprius, Inc.