Circadian Solar receives £2m funding to continue solar PV technology development

24 August 2009

Solar energy company Circadian Solar has received £2m in funding from Seven Spires Investments to continue development on their concentrated photovoltaic technology (CPV).

The funding, the second tranche of an investment of £8m planned to be rolled out over three years by Seven Spires Investment, will also permit Circadian to invest in a joint venture aimed at significantly reducing the cost of high-performance solar cell devices over the next few years.

Robin Godfrey, CEO of Circadian Solar, said, ‘There’s a lot of exciting news for Circadian Solar at the moment, from our recent rebrand to the imminent set-up of a one kilowatt tracker at our test site in the Mediterranean. And of course that all comes in the context of a real groundswell in the solar industry as renewables come to play a larger role in the world’s energy mix. But the benefits aren’t just applicable to the countries where these units will be established; with UK businesses like Circadian Solar forging ahead with CPV technology, the associated advantages of manufacturing and job opportunities will be felt much closer to home.’

Edward McCabe of SSIL added, ‘Circadian Solar is well on target to become a major player in the supply of CPV energy systems. They have achieved all technical and commercial milestones to date and we are pleased to release the next stage of funding for this exciting venture.’

Copyright © 2009 NewNet

Tags: solar

This story was published on Monday, August 24th, 2009 at 10:52 am and is filed under Europe, funds, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Circadian Solar receives £2m funding to continue solar PV technology development”

1. pvinsights says:

   24 August 2009 at 5:00 pm

   pvinsights.com noticed that silicon base solar panel price is around us$ 2 /watt now. solar panel price will drop to around US$ 1.5 /watt in 2010. This will make concentrated PV technology more difficult to survivie in the coming two years.

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