Solar power startup Raygen generates $51 million in Series D – Startup Daily
Victorian solar generation and thermal storage company RayGen has kicked off a Series D raise with $20 million from Breakthrough Victoria alongside a US$20 million (A$31m) follow-on investment from NYSE-listed SLB, as part of plans to expand offshore. RayGen uses proprietary photovoltaic solar modules that generate nearly 2,000 times more power than traditional photovoltaic systems under a concentrated beam of sunlight. Combined with its thermal water-based storage system, which uses heat from water used to cool the modules, RayGen has developed a high efficiency, low-cost long-duration energy storage solution. The…
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