2030 Finance | October 31, 2019

mPower Technology secures seed funding for micro solar cells

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, October 31 – The cost of solar technology has plummeted in the past decade, opening up opportunities to develop the next generation of materials to boost solar energy adoption and efficiency.

Albuquerque, N.M.-based mPower is among those working to advance solar technology with small solar cells made out of silicon that can be connected to form different shapes.

“They are lightweight, flexible, resilient and extremely reliable, overcoming the low-voltage limitations of today’s rigid solar cells,” the company said in a statement.

mPower began developing its technology, which it calls DragonSCALEs, for use on satellites, but is also promoting applications for everything from microgrids to powering individual connected devices.

New Mexico-based private equity firm Sun Mountain Capital backed mPower’s $2.5 million seed round.

Earlier this year, Sweden’s Exeger raised funding from SoftBank for its flexible “solar” cells that can draw power from ambient light; Estonia’s Solarstone secured funding to make interlocking rooftop solar panels that can be integrated into building design; and Britain’s Oxford PV raised a round to develop ultra-efficient solar panels.