Albuquerque, NM ; 03/26/2020
Amount Funded: $1.85 Million (an installment to the total $4.35 funding round.)
Type: Series A
Investor(s): Cottonwood Technology Fund, NMA Ventures, unnamed angel investors.
Company Description: mPower Technology is shaping the future of solar power with a revolutionary new technology called DragonSCALES™ (SemiConductor Active Layer Embedded Solar), a completely flexible, interconnected mesh of miniature solar cells. Leveraging well-established and affordable materials, processes, and tools from the silicon photovoltaic (PV) and microelectronics industries, DragonSCALES enable completely new design options for solar power, removing the constraints of existing silicon and gallium arsenide solar solutions, and enabling highly flexible, resilient, light-weight designs that can be rapidly deployed at extremely low cost.
What funding will be used for: To support development, testing and sales of its solar cell technology.
“We are experiencing tremendous interest in our DragonSCALES technology, not only for the rapidly growing aerospace market, but also for the terrestrial and IoT (Internet of Things) markets. This supplemental capital investment will provide runway for mPower to ready its innovative technology for large-scale production and rapidly secure large commercial contracts in the space market.”
-Kevin Hell, president/CEO, mPower Technology
“mPower’s technology is uniquely positioned to transform the space power market through its significant cost and performance advantages, and this certainly fits with our focus.”
-David Blivin, founder/managing partner, Cottonwood Technology Funds
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