SEAL BEACH, Calif.--()--Amonix, Inc., a leading designer and manufacturer of concentrated photovoltaic (CPV) solar power systems, announced today that it has raised a $129.4 million Series B financing round led by Kleiner, Perkins, Caufield & Byers. Other participants in the round include Adams Street Partners, Angeleno Group, PCG Clean Energy & Technology Fund, Vedanta Capital LP, New Silk Route, The Westly Group, and current investor MissionPoint Capital Partners. Amonix will use the proceeds to accelerate deployments of its CPV systems and expand manufacturing capacity.
“Amonix CPV systems have emerged as the lowest cost solar technology for sunny and dry environments”
“Amonix CPV systems have emerged as the lowest cost solar technology for sunny and dry environments,” said Ben Kortlang, Partner of Kleiner, Perkins, Caufield & Byers. “Developers and utilities are choosing Amonix systems because of their 15-year track record in the field, high reliability, ease of deployment and industry-leading efficiency.”
Brian Robertson, Amonix Chief Executive Officer, noted that the new round of funding reinforces the long-term commitment Amonix has to its customers and projects in the field. “Our customers can rely on our strengthened balance sheet, proven track record in the field, and an industry-leading warranty package,” said Robertson. “Our customers realize the benefit through lower cost project financing.”
Amonix previously raised $25 million in Series A funding from Goldman Sachs Group and MissionPoint Capital, and also received $15.6 million in grant funding through the Department of Energy Solar America Initiative (SAI). In 2010, Amonix received $9.5 million in stimulus funding as part of the federal Recovery Act’s Advanced Energy Manufacturing Tax Credit, which will lead to 269 new clean energy manufacturing jobs in Nevada and 167 new jobs in Arizona.
Amonix designs and manufactures concentrated photovoltaic (CPV) solar power systems that require less water, use land better, and produce more energy per acre than any other solar technology. With the longest track record of real-world CPV deployments in the industry, Amonix is proven to be the best choice for solar power systems in sunny and dry climates. Amonix is headquartered in Seal Beach, California. For more information, visit http://www.amonix.com.
About Kleiner Perkins Caufield & Byers
Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 500 ventures, including AOL, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign and Xilinx. The firm has offices in Menlo Park, California; Beijing, China; and Shanghai, China. For additional information visit http://www.kpcb.com.
About MissionPoint Capital Partners
MissionPoint Capital Partners is a leading international private investment firm focused on financing the global transition to a low-carbon economy. MissionPoint provides growth capital to energy, industrial and financial services companies that enable cleaner, more environmentally-friendly energy, transportation and industrial infrastructure. MissionPoint's portfolio of companies are focused on transforming the way business is conducted in the face of a rising demand for cleaner, more efficient generation and use of energy across all sectors of the global economy. For more information visit http://www.missionpointcapital.com.
About Angeleno Group
Angeleno Group (AG) invests across the energy value chain focusing on high-growth companies with dynamic management teams. Our investment strategy is sector-focused, research-driven and stage-agnostic. We invest in a diversified portfolio of companies working in a broad range of energy sub-sectors. Our success is the result of superior deal sourcing and selection, disciplined portfolio management and value creation in our portfolio companies. For more information, visit http://www.angelenogroup.com.
About PCG Clean Energy & Technology Fund
The PCG Clean Energy & Technology Fund is a co-mingled fund of funds and direct investment vehicle dedicated to investing across the spectrum of the global clean energy and technology value chain. The fund is managed by a dedicated cleantech investment team within PCG Asset Management, which oversees more than $15 billion of private equity commitments through a combination of fund-of-funds, separate accounts and advisory relationships and is based in La Jolla, California. For more information, visit http://www.pcgam.com.
About Vedanta Capital
Vedanta Capital is a venture capital firm formed in 2006, which currently manages $600 million in total commitments. The firm was formed by industry veterans who have been investing in technology, health care and consumer-oriented opportunities since the 1980s. Vedanta looks for technology-based products and services that leverage, enhance or complement network infrastructure; innovative medical technologies and compounds; and disruptive business or consumer services. The firm's industry network in Asia and Europe helps create opportunities and add value to its portfolio companies. For more information, visit http://www.vedacap.com.
About New Silk Route
New Silk Route is a growth capital firm with a $1.4 billion Asia focused fund. The firm was founded in 2006 by two India born stalwarts with an investment track record of 27 years and a leadership legacy of nearly 30 years. NSR’s investment focus is to nurture domestic demand in India and other rapidly growing economies of Asia in sectors like infrastructure, manufacturing/IT, telecommunications, consumer services and financial services. With offices in New York, Mumbai, Bangalore and Dubai, NSR has one of the largest operating teams on the ground in the Indian subcontinent. For more information, visit http://www.nsrpartners.com.
About The Westly Group
The Westly Group invests in leading cleantech companies in an effort to accelerate the clean technology revolution. With extensive operating experience in the private and public sectors, from Silicon Valley to Washington, D.C. to China, The Westly Group uses its experiences to give firms the momentum they need to achieve their potential. For more information, visit http://www.westlygroup.com.
About Adams Street Partners
Adams Street Partners is one of the largest managers of private equity investments in the world. Together with its predecessor organizations, Adams Street Partners has been investing in private equity since 1972. Adams Street manages direct private equity investments as well as primary and secondary partnership investments. With offices in Chicago, London, Menlo Park and Singapore, the Firm currently has 107 employees and $20 billion of assets under management. For more information, visit http://www.adamsstreetpartners.com.