News | Energy Efficiency

http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar/heliovolt-tipped-to-be-in-takeover-talks.html

Ten year-old US solar module manufacturer HelioVolt is in takeover talks with a potential buyer, according to reports.

Board director Scott Sandell, who is a general partner in its backer New Enterprise Associates (NEA) reportedly said that although the company has had wide interest from a number of bidders, it is in exclusive talks with one bidder.
The prospective bidder has not been revealed, but an announcement on the deal is expected to happen within weeks.
Sandell said that the company was eyeing a potential takeover to bring in a partner that would give it access to more capital.
Venture-backed company HelioVolt raised nearly $150m from NEA. The company produces glass laminate solar modules that can be deployed in rooftop installations as well as ground-mounted utility-scale solar farms and building photovoltaics (PV).
The company was founded to commercialise a process for applying copper indium gallium selenide thin-film PV onto conventional construction materials. It raised $8m in Series A venture funding in 2005, before raising $101m in 2007 from a series of investors.