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Business

1366 Raises Funds, Plans Silicon Plant

by Melody M. Bomgardner
October 21, 2013 | APPEARED IN VOLUME 91, ISSUE 42

Solar start-up 1366 Technologies has raised $15 million in a third round of funding. The lead investor is Tokuyama, which calls itself Japan’s largest producer of ultrapure silicon. 1366 makes silicon wafers for solar cells by casting them, rather than by cutting them from a large ingot as firms such as Tokuyama do. The company claims the process reduces the cost of wafers by 40%. In January, 1366 opened a demonstration facility in Bedford, Mass. It plans to put the new funding toward a full-scale facility with a capacity of 250 MW worth of solar wafers.

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