According to Forbes.com article on 9/12/12 - "...a major investor abruptly withdrew financial support for the company.
'A sudden, and unexpected, change in direction from a major strategic investor has affected GreenVolts’ access to funding,' the company said Wednesday in a statement, referring to ABB, the Swiss power and automation giant. 'The impact was at the last minute and so severe that GreenVolts cannot continue normal operation and has reduced its workforce to a small team to provide customer support and engage other options, including working with potential buyers of the system, technology and IP.' "
GreenVolts has taken an integrated systems approach to development of complete Concentrating Photovoltaic (CPV) solutions that combines:
•State-of-the-art proprietary highly concentrating optics •¢High precision, low profile, two-axis solar tracking •Intelligent power and control systems •On-board, real time, high resolution performance monitoring
This unique integrated systems approach will achieve industry leading energy productivity and low overall Levelized Cost of Energy (LCOE).
The high energy density of GreenVoltsâ€™ CPV system enables low cost power production that can be deployed close to load, further increasing the real value of the energy generated.
Funding Rounds (5) - $96.8MUpdate
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46400 Fremont Boulevard
Fremont, CA 94538