Solexant raises another $24M
By Erik Siemers, Business Journal staff writer
Business Journal staff writer
Thin-film solar energy startup Solexant has raised nearly $24 million in new equity capital.
The San Jose, Calif.-based company disclosed the funding round in an Aug. 1 filing with the federal Securities and Exchange Commission.
Solexant last year annouced plans in July 2010 to build a $200 million, 100,000-square-foot solar module manufacturing plant in Gresham, to be financed in part with a $25 million loan from the Oregon Department of Energy.
Last month, that loan agreement expired after Solexant failed to move forward with its initial plans.
Janet Young, the economic development director with the city of Gresham, last month said the company wasn’t “satisified with where they’re at with their panels,” making an investment in a production facility premature.
State officials said the company can still reapply for the loan later.
It’s unclear how Solexant will use the funding round, which was first reported Thursday by GigaOM.com.
Solexant officials have not returned several requests for comment.
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