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Start-up raises $35 million for concentrating photovoltaic system that uses lenses to concentrate sun 1,300 times onto high-efficiency solar cells.
Concentrating-solar company GreenVolts is one of a few solar start-ups that has shifted strategies to sell equipment rather than develop renewable energy projects.
Winning proposals in this year's green tech start-up funding competition offered low-cost options for consumers.
More money pours into companies that can concentrate sunlight.
VCs smell a hot market, but that doesn't mean that the market will support all those companies--and all the capacity they need to bring online for their business models to work.
Running the numbers on the reported solar-powered Prius; GreenVolts eyes more cash; a clean-tech fund from a steel manufacturer; U.S. policy halts solar investments; debate over enough energy innovations; solar-power streetlights in Baghdad.
Judges of the "start-up in a box" prize for fledging green-tech companies will narrow the finalists down to six winners by November.
Competition highlights special hurdles faced by start-ups attempting to provide clean technologies for people in developing nations.
The race is on to construct power plants using solar thermal technology in the southwest U.S. and Spain.
The European market is hot, so the solar technology company plans to expand there.