What the Rich Do

Investors Pour $28 Million Into Solar Technology

   I am not in favor of all that GE does and the evident connection with the White House, but I am in favor of private industry and private investing.  

Two new private investors are putting money into Massachusetts-based 1366 Technologies, developer of processes could cut in half the cost of photovoltaic solar panels.

New investors GE Energy Financial Services, a unit of GE and VantagePoint Venture Partners, have joined return investors North Bridge Venture Partners, Hanwha Chemical and Ventizz Capital Partners in an $8.4 million extension of a $20 million funding round backing the company.

1366 Technologies will use funds from the Series B extension to further refine its solar wafer technology. The investment amount for each firm participating in the latest funding round was not disclosed. 1366 Technologies has raised almost $46 million from private investors.