Spanish utility Iberdrola Group's Inversiones Financieras Perseo, and manufacturer Nypro's New Ventures Group reinvested in Morgan Solar and were joined by investment manager Frost Group.
Morgan Solar, a Canada-based renewable energy producer, has raised $16.5m in the first tranche of its series B round from a consortium including two of its existing corporate venturing investors.
Spanish utility Iberdrola Group’s Inversiones Financieras Perseo, and manufacturer Nypro’s New Ventures Group reinvested and were joined by investment manager Frost Group.
Morgan Solar said it was in discussions with strategic investors to close the remainder of the B round.
The money will be used to make and sell Morgan’s…
