Siva Power secures investment for thin film facility

Siva Power has continued to raise money for the development of its module manufacturing facility in Santa Clara, California.

Since 2015 – when it received funding for the project from the Department of Energy’s Sunshot initiative – Siva Power has continued with ambitious plans to develop its facility in Santa Clara, which it claims is “a solar factory for the ‘terawatt era’ that will produce solar panels at unprecedented scale and the lower production cost.”

Siva picked up $5 million in venture capital a year ago to build a pilot line for its CIGS co-evaporation technology, which it claimed at the time can deposit CIGS semiconductor stacks at high rates over a large area.

Back in February, the company announced the acquisition of thin film production tools from First Solar and Bloo Solar, ino order to expand the Santa Clara facility. Siva Power states that it is making steady progress with its technology and has seen plenty of customer interest.

“We are very pleased by the confidence that our investors have placed in our technical team and business model,” says Siva Power CEO Bruce Sohn. Sohn joined the company in September having previously served as President of First Solar.

After several years of little activity, several companies have again showed an interest in thin film PV manufacturing over the past year. European equipment providers including Manz and Midsummer reported strong sales in the past quarter, primarily to manufacturers based in Asia.