MPower Technology Raises $2.5 Million
Solar cell technology startup mPower Technology raised $2.5 million in Series A funding from investors including Sun Mountain Capital. The capital builds upon R&D investment by Sandia National Laboratories and will be used to commercialize mPower’s solar cell technology, DragonScales, in the aerospace market.
MPower’s DragonScales are made up of individually interconnected cells of silicon, and aim to overcome the low-voltage limitations of today’s rigid solar cells. According the release, DragonScales may be particularly attractive to the aerospace market, offering reduced weight and stowage volume, increased radiation recovery, and lower cost compared to existing Gallium Arsenide-based (III-V) solutions.
“We’ve made a great deal of progress in 2019 with our partners in the aerospace market. This investment is a direct reflection of the promise of this technology and the confidence our investors have in our ability to execute our business plan in the near future,” said Kevin Hell, president and CEO, mPower Technology. “With its disruptive cost and performance advantages, our groundbreaking technology is incredibly well positioned to be the solar power solution of choice for the next era of aerospace applications, particularly the large emerging market for satellite constellations.”