1366 Technologies Secures $18M Series E
Summary
BEDFORD, MA, Today, 1366 Technologies is announcing an $18 million Series E financing from several new investors.According to BostInno, Breakthrough Energy Ventures (BEV) co-led the startups Series E round, which 1366 Technologies closed on Tuesday at $18 million.In a press release, 1366 Technologies said that other new and returning investors also participated in the round. "Until now, any significant innovation in solar has happened at the cell or module level. "Since its founding in 2007, 1366 Technologies has raised $107 million in venture capital funding. It has also scored deals with several major players-in 2011, the company received a loan from the U.S. Department of Energy worth $150 million, and in 2016, it landed a long-term strategic partnership with German silicon manufacturer Wacker Chemie AG.BEV has several other Boston-area companies in its portfolio, including Commonwealth Fusion Systems, Form Energy and Motif FoodWorks. The investment firm is led by billionaires Bill Gates, Jeff Bezos, Richard Branson and others, and it has just one funding criterion: Companies it invests in must be working to reduce "about 1 percent of projected 2050 global emissions.