Solar Company Sopogy Raises Series A Financing

After six years in development, solar concentration technology developer Sopogy Inc. has emerged from a Hawaiian energy incubator and raised approximately $3 million in angel financing, VentureWire has learned.

The Honolulu-based start-up is the brainchild of Darren Kimura, chief executive officer and chairman of the Hawaiian energy project management firm Energy Industries LLC, and its start-up incubator Energy Laboratories.

“Back in 2001, I created Energy Laboratories, which is our cleantech incubator,” Kimura said. “Energy Laboratories and myself provided the angel capital before the Series A financing [for Sopogy].” The latest financing was raised from individual investors and a syndicate of angels.

Sopogy, which stands for solar-powered energy, has developed a solar technology based on thin-film solar cells and thermal fluid heat transfer, Kimura said.

Currently, the company has manufacturing capacity to produce approximately 30 megawatts of power, but Sopogy is in the process of raising an additional round of financing that would be used to increase capacity to approximately 300 megawatts, Kimura said.

The company, which has five employees, has been granted one patent and has another five pending on its technology, according to Kimura.

Sopogy is currently marketing two products: one designed for commercial and light industrial use and a smaller module for consumers. One of its largest customers is Hawaiian Electric Inc.

http://www.sopogy.org