Reel Solar, a developer of thinfilm solar technology, has raised $15 million in venture financing from a group of veteran cleantech venture funds, including Pangaea Ventures.
Reel Solar, headquartered in San Jose, Calif., is also backed by San Francisco’s CMEA Capital and the Mayfield Fund, show regulatory fillings. Veteran technology executive Bruce McWilliams is also listed as a company director. Until earlier this year McWilliams was CEO of Tessera Technologies.
This is Reel’s second round of funding.
According to recent media reports, Reel is set to move to a large 57,860-square-foot in North San Jose, from where it will conduct ongoing R&D and pilot testing of its thinfilm technology.