UK start-up AdvanceSis has managed to raise follow on funding from Seven Spires Investments to finance a three year business plan for expansion of its technology and business development resources in the UK and mainland Europe.
The amount was described as “multimillion dollar” for the photovoltaic company.
The goal for the photovoltaic industry is reducing manufacturing costs and AdvanceSis reckons it can get solar power to “grid-parity” – the point where solar energy can compete on price with fossil fuels.
The Coventry-based company is combining recent developments with advanced semiconductors, power electronics and optical system capabilities to achieve this.
I like the firm, not just because it is working on technology that is important for all of our futures, but also because the firm was set up to commercialise epitaxial SiGe technology, strayed into photonics and photovoltaics and realised it could do something in the sector.