Another day another huge cleantech venture capital funding round, today Amonix, a Seal Beach, Calif.-based maker of concentrated photovoltaic (CPV) solar power systems, has closed a $129.4 million Series B funding.
Kleiner, Perkins, Caufield & Byers led the round. Other participants included Adams Street Partners, Angeleno Group, PCG Clean Energy & Technology Fund, Vedanta Capital, New Silk Route, and The Westly Group. MissionPoint Capital was a returning investor.
The company says it will use proceeds to scale production of its panel (last year the company bought San Francisco startup Sunworks Solar, a developer of thin-film solar panel factories).
The amounts raised by early-stage greentech companies in a single raise is far larger than what straight technology companies ever raised. Kleiner, Perkins-backed Bloom Energy, the energy storage company has so far raised $400 million; Electric car company Tesla Motors is backed by $100 million in venture capital; Thin-film photovoltaic cell maker Solyndra racked up $200 million in venture capital cash in 2009.
Recent data shows that while a growing amount of cash is being invested in cleantech by early and later stage investors, overall PE and VC funds are having a harder time raising capital. If the trend continues green energy companies could find it hard to raise money.