Solaria raises $45 million

Solar panel manufacturer Solaria Corp. said today [May 11]it has raised $45 million in financing to increase panel production.

The Fremont-based company designs solar panels for utility-scale, ground-mounted projects. Instead of using traditional square silicon cells, Solaria slices cells into strips and uses specially designed glass to concentrate the sun onto the strips. The company says its panels use half the silicon of traditional panels, which it says keeps the costs low, according to a May 11 Business Journal report.

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