Confluence Solar, Inc. Raises $12.7 Million Series A Funding.HiCz[TM] Single Crystal Silicon to Deliver a Platform for More Efficient Solar Technology ST. LOUIS -- Founded by silicon industry veterans, Confluence Solar, Inc., a manufacturer of high quality single crystal silicon for the solar photovoltaic The generation of voltage by a material that is exposed to light in the visible and invisible ranges. See photoelectric and photovoltaic cell. industry, announced today that the company has raised $12.7 million in capital. Confluence Solar, Inc. is opening a new facility in Hazelwood, Missouri Hazelwood is a northern suburb in St. Louis County, Missouri, United States. The population was 25,523 as of 2006[1]. The city is home to the headquarters of the United Pentecostal Church International (UPCI), the world's largest Oneness Pentecostal church organization. to develop its HiCz[TM] single crystal silicon product. Convexa Capital of Oslo, Norway led the Series A financing with additional investments from DC Chemical Co., Ltd., Scatec Adventure AS, Oceanshore Ventures and others. "Confluence Solar is developing a very attractive approach to lower the cost of ownership and improve the quality of silicon for solar applications," said Bjorge Gretland, Managing Partner of Convexa Capital. Alf Bjorseth, Chairman of Scatec AS added, "Confluence Solar's experienced management team and technical approach have the potential to make a material change in producing silicon crystals for solar cells." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the National Renewable Energy Laboratory The National Renewable Energy Laboratory (NREL), located in Golden, Colorado, as part of the U.S. Department of Energy, is the United States' primary laboratory for renewable energy and energy efficiency research and development. (NREL NREL National Renewable Energy Laboratory NREL Natural Resource Ecology Laboratory (Colorado State University, Fort Collins, CO) ), greater than ninety percent of solar cells are made on silicon. With the development of HiCz[TM] manufacturers of solar products can receive greater watt output than from traditional multi crystal silicon platforms. "Solar cell manufacturers who want to be on the cutting-edge delivering the most advanced use of solar technology will want to utilize HiCz[TM] single crystal silicon product," said Dr. Frank Delk, Chief Technology Officer of Confluence Solar, Inc. "Confluence Solar's strategy is to work closely with our customers to tailor our HiCz(TM) single crystal substrate to maximize the efficiency of their advanced solar cell designs." Confluence Solar, Inc. has developed strategic relationships with key suppliers for all critical raw materials, supplies and equipment including polysilicon. "Confluence Solar's experienced management team and technical approach gained our support in both monetary investment and polysilicon supply agreements," stated Mr. Hyun Woo Shin, Vice Chairman of DC Chemical Co., Ltd. "We thank our investors as well as our raw material partner DC Chemical for their support and vision in participating in the development of the HiCz[TM] product," said Tom Cadwell, chief executive officer of Confluence Solar, Inc. "DC Chemical's commitment to supply polysilicon enables our entry into this dynamic industry." About Confluence Solar, Inc. Founded in 2007 by silicon industry veterans with the purpose of bringing premium quality, low-cost single crystal silicon as a platform for high efficiency cell design to solar cell manufacturers. To learn more about Confluence Solar, Inc. visit www.confluencesolar.com. About DC Chemical Co., Inc. DC Chemical Co., Ltd. (KRX KRX Korea Exchange (stock market) KRX Korean Recycler's Exchange :10060) is a leading Korean chemical producers engaging in a wide range of disciplines, such as inorganic chemicals, petro and coal chemicals, and fine chemicals. DC Chemical's major products include carbon black, pitch, TDI TDI - Transport Driver Interface , hydrogen peroxide hydrogen peroxide, chemical compound, H2O2, a colorless, syrupy liquid that is a strong oxidizing agent and, in water solution, a weak acid. It is miscible with cold water and is soluble in alcohol and ether. , sodium percarbonate Sodium percarbonate is a white crystalline water-soluble chemical compound of sodium carbonate and hydrogen peroxide. It is an oxidizing agent and ingredient in a number of home and laundry cleaning products. Despite the name it is in fact a carbonate perhydrate. , soda ash soda ash: see sodium carbonate. , fumed fume n. 1. Vapor, gas, or smoke, especially if irritating, harmful, or strong. 2. A strong or acrid odor. 3. A state of resentment or vexation. v. silica, and polycrystalline silicon Polycrystalline silicon or polysilicon or poly-Si or simply poly (in context) is a material consisting of multiple small silicon crystals. Polycrystalline silicon can be one of the purest elements in the world; it may be as much as 99.9999999+% pure. , a key raw material for solar cells and semiconductor wafers. As a global enterprise, DC Chemical has nurtured a strong competitive edge in various industrial fields. Recently, the company has entered into the renewable energy business, completed its 5,000 mt Polysilicon Phase 1 plant in December 2007 and entered into commercial production in March 2008. For more information please visit www.dcchem.co.kr. About Scatec AS Scatec is based in Oslo, Norway and invests in and develops new businesses within the areas of renewable energy and environmentally friendly 'advanced materials'. For more information please visit http://www.scatec.no/. About Convexa Convexa is a leading Norwegian venture capital company that invests in early stage companies with disruptive technologies in solar energy and other energy related areas. Convexa has made several investments in solar energy including Solopower, Silicon Genesis Corporation (Sigen), Innovalight, Soliant Energy, Stellaris (all in the US) and Norsun and Metallkraft (Norway). For more information please visit www.convexa.com. About Oceanshore Ventures Oceanshore Ventures is a Palo Alto, CA based venture capital firm that invests in companies in the alternative energy, environmental and advanced materials sectors. |
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