mPower Technology secures USD 2.5m in Series A funding

New Mexico-based solar cell technology startup, mPower Technology, has announced that it has raised USD 2.5 million in Series A funding from Santa Fe-based Sun Mountain Capital and other experienced sector investors, the company said.

The capital builds upon extensive R&D investment by Sandia National Laboratories and will be used to commercialize mPower´s breakthrough solar cell technology, DragonSCALEsTM, in the aerospace market.

Drawn by the significant opportunities in the aerospace market initially, but also by the expanded market opportunity for applications such as remote power, IoT and terrestrial rooftops, investors believe mPower´s technology overcomes critical limitations of existing solar cell technology.

mPower Technology is shaping the future of solar power with a revolutionary new technology called DragonSCALEs (SemiConductor Active Layer Embedded solar), a completely flexible, interconnected mesh of miniature solar cells. Leveraging well-established and affordable materials, processes, and tools from the silicon photovoltaic (PV) and microelectronics industries, DragonSCALEs enable completely new design options for solar power, removing the constraints of existing silicon and gallium arsenide solar solutions, and enabling highly flexible, resilient, light-weight designs that can be rapidly deployed at extremely low cost.