Solar Junction has partnered with the semiconductor wafer company as part of its latest round, and the two plan to jointly develop a 50% fuel efficient solar cell.
Solar cell developer Solar Junction completed its series D round on Monday, having raised $19.2m from existing investors, with semiconductor wafer producer IQE among the backers. The partnership is also strategic, as Solar Junction was seeking a partner to help it increase its record figure of 43.5% fuel efficiency in a solar cell.
Existing investors include venture capital firms New Enterprise Associates, Advanced Technology Ventures and Draper Fisher Jurvetson. The latest funding round takes Solar Junction’s overall financing to $54.5m.
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