Amonix Receives Fiscal Boost
Amonix, Inc., a designer and manufacturer of concentrated photovoltaic (CPV) solar power systems, has announced that it has raised a $129.4 million Series B financing round led by Kleiner, Perkins, Caufield & Byers. Other participants in the round include Adams Street Partners, Angeleno Group, PCG Clean Energy & Technology Fund, Vedanta Capital LP, New Silk Route, The Westly Group, and current investor MissionPoint Capital Partners. Amonix will use the proceeds to accelerate deployments of its CPV systems and expand manufacturing capacity.
"Amonix CPV systems have emerged as the lowest cost solar technology for sunny and dry environments," said Ben Kortlang, Partner of Kleiner, Perkins, Caufield & Byers. "Developers and utilities are choosing Amonix systems because of their 15-year track record in the field, high reliability, ease of deployment and industry-leading efficiency."
Brian Robertson, Amonix Chief Executive Officer, noted that the new round of funding reinforces the long-term commitment Amonix has to its customers and projects in the field. "Our customers can rely on our strengthened balance sheet, committed corporate partners, proven track record in the field, and an industry-leading warranty package," said Robertson. "Our customers will realize the benefit through lower cost financing."
Amonix previously raised $25 million in Series A funding from Goldman Sachs Group and MissionPoint Capital, and also received $15.6 million in grant funding through the Department of Energy Solar America Initiative (SAI). In 2010, Amonix received $9.5 million in stimulus funding as part of the federal Recovery Act's Advanced Energy Manufacturing Tax Credit, which will lead to 269 new clean energy manufacturing jobs in Nevada and 167 new jobs in Arizona.
