In their quest to create the next First Solar
, VC investors are making enormous bets on new solar technologies, including the difficult Cadmium Telluride (CdTe) materials system.
I've just learned from a very reliable investor source that AVA Solar
, a CdTe photovoltaics manufacturer in Colorado, has received a term sheet for a $100 million round at a $750 million pre-money valuation, with $50 million of that round coming from DCM
. A contact at AVA Solar declined to comment. Valuations in these stratospheric ranges are becoming the norm for solar startups with very high expectations and very low revenues such as Solyndra
My source's investment firm chose...