to-the-point Start-up needs USD-4m to commercialise microchip inverter
Apr 22, 2016 16:19 CEST
April 22 – SineWatts, a Charlotte, North Carolina-based company, has brought its microchip solar inverter technology to a high-profile demonstration project and is looking for USD 4 million (EUR 3.6m) to commercialise the product, Charlotte Business Journal reported.
If the funds are not secured by late 2016, five years of work could be wasted, chief executive Shiba Bhowmik was cited as saying. The firm has applied for a federal grant and says that unless this comes first it would be unable to raise private funds.
A prototype of SineWatts’ Inverter Molecule technology is now being assessed in a project involving a major US utility and an energy research institute, according to the article (http://www.bizjournals.com/charlotte/print-edition/2016/04/22/sinewatts-close-to-commercial-product.html?ana=RSS%26s%3Darticle_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+industry_5+%28Industry+Energy+%26+the+Environment%29.)
(USD 1.0 = EUR 0.889)
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