MIT Solar Spin-off Snags $12.4M

Moresco, Justin
March 2008
Red Herring;3/26/2008, p1
Trade Publication
The article reports on the $12.4 million first round venture funding secured by startup company 1366 Technologies in 2008. According to the company, the funding will decrease its costs by using a cell architecture to increase by 25 percent cell efficiency. Frank van Mierlo, president of 1366 Technologies, said that the company is interested in finding an improvement for the dominant technology. However, he also acknowledges that the company needs to prove itself first in the real world.


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