PVT Solar, Inc. the developer of photovoltaic (PV) solar panels that use waste heat for water heating, has closed a $13.7 million ‘B’ financing round.
Sigma + Partners led the close of this latest round of financing, joined
by Khosla Ventures and Energy & Environment Investment, Japan. In
2009, Khosla Ventures led PVT Solar’s initial first round of financing.
PVT Solar also appointed Vikas Desai as CEO. Desai was previously vice president and general manager of SunPower's (Nasdaq: SPWRA) residential and light commercial business unit.
PVT Solar Inc. designs, manufactures, and markets the Echo solar system. Echo supplements conventional solar electric PV panels with a unique solar thermal technology that captures the heat from the PV panels. Echo generates not only electricity, but also hot water for washing and bathing, and thermal energy for home heating and home cooling.
PVT Solar headquarters are in the San Francisco Bay area, California.
