US-based MTPV, developer of a semiconductor that transforms waste heat into energy, has closed a $10m series B round, with Applied Materials investing in both tranches.
Clean energy semiconductor developer MTPV closed its series B funding on Thursday, raising $10m from investors including Applied Ventures, the corporate venturing fund belonging to Applied Materials.
The round was completed with a $3.25m follow-on investment by Applied and investment firm Northwater Capital Management.
MTPV formerly raised $6.75m, in September 2011, in a round that featured Applied, as well as private equity fund Spinnaker Capital Partners, Ensys Capital, the Massachusetts Clean Energy Center and the Clean Energy Group.
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