Energy Innovation commercial solar electric system

[Martin]

http://www.energyinnovations.com/

 

pasadena company, manufacturing in China

systems for large flatroof commerical buildings in Arizona and S. Calif.

(not for private homes!)

 

$16.5 million venture capital from Mohr-Davidow Ventures (MDV)

 

----quote from press release----

ENERGY INNOVATIONS SECURES $16.5 MILLION IN VENTURE FINANCING LED BY MOHR DAVIDOW VENTURES PASADENA, CA – June 21, 2005 –Energy Innovations, Inc., currently developing the world’s first low-cost rooftop photovoltaic (PV) solar concentrator system, today announced it received $16.5 million in new venture funding. The round was led by MDV-Mohr Davidow Ventures, based in Menlo Park, CA, with additional participation from founding investor, Idealab, based in Pasadena, CA. The new funds will be used to further the company’s sales and product development initiatives and for company operations. "Clean energy technologies will provide a vital foundation for 21 st century economies, and we were greatly impressed with the potential we saw in Energy Innovations," said MDV General Partner Erik Straser, who will join the Energy Innovations board of directors. "They have made some important breakthroughs that have the potential to drive down the cost of solar electricity, and we look forward to working with them on commercializing these new technologies."...

---end quote---

 

---quote from mission statement---

Energy Innovations is on a mission to build affordable renewable energy systems. We have begun our quest with a major R&D effort aimed at delivering a system for flat-roofed, grid-tied commercial buildings in North America by late 2005. In addition, we are working on a number of longer-term efforts that will serve customers in both domestic and international markets.

---end quote---

 

note that they designed their system for economies of scale and to be suitable for a user who is tied into the power-grid----so can use the grid for storage. the system uses a field of microprocessor controlled mirrors as a concentrator, cutting the cost of photovoltaics