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Constellation Technology Ventures helps SolarBridge raise $42m

10 Mar 2014

sun sunset solar beach holiday seaTexas-based solar technology company SolarBridge Technologies has raised $42m in funding from Constellation Technology Ventures, part of US energy producer and distributor Exelon Corp.

PreviousSolarBridge investors also include Shea Ventures, Rho Ventures and Prelude Ventures, who took part in the latest round.

Michael Smith, Constellation vice president and head of Constellation Technology Ventures will join the SolarBridge board of directors.

A statement from the firm said the funding will be used to expand sales and marketing, and continue the company’s focus on research and development as it scales its customer base across North America and Australia.

“This round of funding underscores our position as the leader in AC module technology,’ said Bill Mulligan, president and CEO of SolarBridge.

“AC modules are changing the way distributed PV is sold, designed and installed.

“Quality and reliability are critical differentiators in the microinverter segment, and our performance has established SolarBridge as best-in-class technology for executing a TrueACTM module.”

According to SolarBridge’s website, their TRueAC modules are roof-ready units that simplify the design and increase the reliability of PV systems.

“Residential and small-scale commercial solar have experienced tremendous growth in the US and abroad,” said Smith.

“SolarBridge’s unique technology aligns with our growing distributed generation business. AC solar will be a significant contributor to further reducing the cost of solar and driving continued growth in the market.”

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