SolarBridge Technologies Secures $25 Million in Series D Funding

(BUSINESS WIRE)–SolarBridge Technologies (SolarBridge), a leading provider of microinverter solutions used in AC modules, announced it has secured $25 million in Series D funding. The company has raised more than $71 million to date.


The funding was led by a new investor, Shea Ventures. Investors from previous rounds, including Battery Ventures, Rho Ventures and Osage University Partners, also participated in the Series D.

“AC modules powered by SolarBridge microinverters are the clear choice for residential and light commercial solar,” said Ron Van Dell, president and CEO, SolarBridge. “The SolarBridge AC Module System is a highly bankable solution because it enables an integrated 25-year warranty on the module and dramatically reduces the cost of solar energy through unmatched reliability, better energy harvest and simpler installation. We look forward to further establishing our lead as the preferred microinverter provider to leading module manufacturers.”

The funding will be used to support the launch of new hardware and software products, increase sales and marketing efforts and expand the company’s operations globally.

“As the market for rooftop solar continues to grow, we are excited to partner with SolarBridge, which provides innovative and reliable microinverter technology and a highly differentiated business model,” said Jason Schoettler, managing director of Shea Ventures.

 

Short URL: http://www.solarthermalmagazine.com/?p=19174

Posted by Press Release on May 30 2012. Filed under Finance/Investing, U.S.. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry