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Durham startup Semprius raises $20.6 million

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Durham startup Semprius has raised $20.6 million in equity funding, the company reported in a regulatory filing today.

Last week, Semprius announced that corporate giant Siemens had acquired a 16 percent stake in the company, which is developing next-generation solar devices.

Terms of that investment weren't disclosed.

Semprius CEO Joe Carr declined to say today whether the $20.6 million included the Siemens investment.

He said the company would release more detailed information about the funding round next week.

Semprius is also seeking to raise an additional $9.3 million in equity funding, according to the filing with the Securities and Exchange Commission.

The additional capital will be used to build a plant to manufacture Semprius' solar cells.

Semprius has identified a location for the plant but has yet to disclose it. An announcement should come in the near future, Carr said.

The company has been working with Siemens Industry on building and deploying demonstration units of its solar cells.

Semprius has a patented process, first developed by professors at the University of Illinois, that lowers the cost of producing solar cells.

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About the blogger

Business reporter David Bracken came to the N&O in 2004. He covers commercial and residential real estate. Contact David at 919-829-4548 or e-mail him.