By Silicon Valley / San Jose Business Journal

Sunpreme said Monday it raised $50 million in financing. The Sunnyvale-based company makes solar cells branded as SmartSilicon.

The funding was led by the International Finance Corp., the private sector investment arm of the World Bank Group. It also included existing investors Palo Alto-based Capricorn Investment Group and Beijing-based China Environment Fund III LP, which is managed by Chinese cleantech venture capital management firm Tsing Capital.

The early stage company plans to use the funds to build a facility in Jiaxing, China, near Shanghai, to expand its production capacity of SmartSilicon solar cells by the year's end.

Click here to learn more about the company's technology.

Click here to read the press release from Sunpreme.

Written by Lisa Sibley. She can be reached at or 408.299.1830.

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