SolFocus, the leading developer of Concentrator Photovoltaic (CPV) systems, announced that it has closed its Series C Funding round having raised $77.6 million. The company is completing its transition from pilot production to full scale commercialization, with the expansion of manufacturing from 0.5MW in 2008 to over 10MW to be shipped this year, with capacity for over 50MW going into 2011. The funds raised in this C Round will be used to support the rapid manufacturing ramp in the company’s transition to volume production. SolFocus announced a first close on the C Round in January of this year, at which time it had raised $47 million. Since that first close the company has raised an additional $30.6 million, bringing the total round to $77.6 million.

“Closing a round of investment with more than $77 million is no small feat in this challenging fund-raising environment, and a good indication of market expectations for SolFocus in 2009 – the year of CPV commercialization,” said Mark Crowley, Chief Executive Officer and President. “The investment will allow SolFocus to align its operations, engineering, and project management with the demands of global manufacturing and deployment.”