Pythagoras Solar works the finance angle
The Israeli company raises $10 million in a bid to build more cost-effective solar power arrays.
Tel Aviv, Israel-based Pythagoras Solar has raised $10 million in series A financing and has released a scant few details on its solar photovoltaic technology.
"The company is working to combine software models, optic design, semiconductor processes, materials science, and mass manufacturing techniques to build highly durable, cost-effective solar energy products," according to the company's Web site.
Pythagoras also said Monday it will release more information on its products and technologies by early 2009.
The investment was led by Israel Cleantech Ventures and joined by Pitango Venture Capital and Evergreen Venture Partners.
The company was founded in 2006 by Gonen Fink, who previously worked at Check Point Software, and Itay Baruchi. It has an R&D center in Hakfar Hayarok, Israel, and a U.S. office in San Mateo, California.
Solar is one of the hottest areas of clean-tech investment as entrepreneurs seek out technologies to lower the price of sun-derived electricity with more efficient solar cells and optimized manufacturing processes.
Although Pythagoras has not revealed what sort of solar technology it is developing, concentrating solar power systems use optics--lenses and mirrors--to maximize the output of solar cells.
These concentrating photovoltaic arrays are being tested for solar power plants in desert areas, such as Israel. (Click here for an FAQ and photo gallery on concentrated photovoltaics, or CPV.)