Prism Solar Technologies' CEO Rick Lewandowski just called to say that the company isn't seeking $150 million to build out a factory at a site it had just purchased, contrary to what's been reported by Dow Jones' Clean Technology Insight and VentureBeat.

Lewandowski said he had just closed a bridge round that is under $5 million and was planning to announce it in about a week. "There is no new round open, and we are not seeking new funding at this point," Lewandowski said. 

Prism, founded in 2005, has developed a holographic film that can concentrate sunlight onto silicon-based solar cells to improve power production. The holographic film, sandwiched between glass, can capture the desired portions of the light spectrum to boost energy production (see company diagrams). The film then reflects the light in various directions, so the light can hit the front and back of the silicon-based solar cells to improve energy output as well, the company said.

Based in Lake Katrine, N.Y., Prism Solar said last month it had purchased a former plasma display panel factory in Highland, N.Y., from Panasonic for $3.75 million and intended to convert it into a manufacturing center for making 60 megawatts of solar panels per year and a gigawatt of the holographic films, which would be sold to solar panel makers. The old Panasonic factory already came with equipment and a set up that can be re-used for solar panel manufacturing, the company said.

Prism raised $2 million for a seed round. Then it raised $6.5 million for its Series A in 2007, Lewandowski said. Earlier this year the company won a $1 million grant from the U.S. Department of Energy to help it start commercial solar panel manufacturing. Prism has a research and development center in Tucson, Ariz. It plans to start holographic film production at the Tucson facility first and assemble those films into panels at the New York factory, the company told Greentech Media earlier this year.