Innovalight, Iogen, Ovation announce raises

Busy last couple of days:

• Innovalight, which is developing silicon ink-based solar PV technology, announced a $7.5mm Series B, led by Harris & Harris.  Existing investors Apax Partners, ARCH Venture Partners, Sevin Rosen Funds and Triton Ventures also participated in the round.

• Iogen, which is developing technology to produce cellulosic ethanol from agricultural waste, took in $30mm in financing from Goldman Sachs.  The company had previously raised significant capital ($20mm from the Canadian government, $100mm in “internal funding and funding from strategic partners” from Petro-Canada and Royal Dutch/Shell).  Some indication of valuation is given by the fact that Goldman’s stake is a minority ownership.  Iogen is planning on breaking ground on a commercial plant based upon their technology sometime next year, with production beginning in 2009.  The Red Herring article linked to above also has a nice description of the funding challenges facing capital-intensive new technologies like Iogen’s…

• Ovation Products, which is developing a “clean water appliance” for distributed wastewater treatment, took in an undisclosed amount of funding from Andlinger & Co.