Strategic investors participating in Morgan Solar's first round are Iberdrola, the world's largest renewable energy provider, and Nypro Inc., a global leader in injection molding and contract manufacturing with operations in 16 countries.
The funds will finance activities through to the commercial release of Morgan Solar's unique Concentrated Photovoltaic (CPV) solar panel - the Sun Simba HCPV.
The Sun Simba HCPV is a low cost, high efficiency solar panel designed for utility scale solar farms and distributed generation. "The most important goal for solar energy is to become competitive with other electrical generation technologies. Our view is that this can only be achieved with low cost, scalable, high efficiency solar panels," said
Early manufacturing for testing and certification has started at Morgan Solar's facility in
About Morgan Solar Inc
Morgan Solar Inc was founded in 2007 to develop next generation solar power technologies that will make solar energy significantly less expensive. They have developed a number of concentrated photovoltaic technologies, of which the first to market will be the Sun Simba HCPV. This high efficiency, low cost concentrated photovoltaic solar panel uses a completely new type of optical concentration system - the Light-Guide Solar Optic (LSO). The LSO allows Morgan Solar to avoid the high cost and complexity inherent in current concentrating optics and panel structures based on mirrors and lenses, thus delivering a simple, low cost, efficient solar panel that is ideal for the utility scale and distributed generation solar power markets. Future versions will target other markets, including building-integrated solar applications.
SOURCE Morgan Solar, Inc.