Durham-based Semprius is looking to raise cash from investors with a target of $1.25 million. How much has it raised so far?
According to an SEC filing, two investors have provided $501,648.
The new funding is a mix of debt and options.
The first cash was raised earlier this month.
According to the filing, Semprius, whose investors include the venture capital arm of the CIA, will likely look for more money within the next year.
Semprius has developed a way to make more efficient solar cells. Its high concentration photovoltaic technology makes what the company says are the world’s smallest solar cells – about the size of a pencil point. Decreasing the size and increasing the efficiency of solar cells drives down the manufacturing costs of solar modules.
In 2012, Semprius opened its first manufacturing plant in Henderson that is expected to employ as many as 250 workers. Semprius says that the solar modules produced there are the highest efficiency mass-produced solar modules in the world. In October, the company announced a new record as its reached 35.5 percent efficiency – two to three times, two to three times more efficient than conventional photovoltaic modules.
In 2013, Semprius was named to MIT’s list of 50 disruptive companies. Last year, MIT named Semprius as one of 10 disruptive technologies.
Read the latest SEC filing at: