According to SEC documents, Entech Solar raised $6.95 million, primarily from Quercus Trust, which owns 54% of the company.
The Fort Worth, Texas based company makes concentrating photovoltaics and tubular skylights meant to replace office and school lighting with sunlight.
Entech Solar was founded in 1984, though its current name was created in 2008 when photovoltaic installer WorldWater & Solar Technology bought Entech, Inc. Quercus Trust invested $35 million then, and the fund’s David Gelbaum stepped in as Entech Solar CEO in February of this year.
The company’s solar modules provide both heat and electricity by concentrating sunlight into its cells, and Entech Solar claims its electric and thermal energy output can generate up to five times as much energy as traditional photovoltaics.
Entech Solar, Inc. designs, develops, and commercializes solar energy systems. It designs modules that provide both electricity and thermal energy by utilizing its proprietary concentrating photovoltaic technologies in its SolarVolt and ThermaVolt systems, which produce energy for various commercial and industrial applications. The company, formerly known as WorldWater & Solar Technologies Corp., was founded in 1984 and is headquartered in Fort Worth, Texas.
Quercus Trust is the extremely low-profile (see homepage) greentech VC and investment firm headed by the equally incognito David Gelbaum. Quercus’ more than $400M in investments span at least 30 greentech companies, including: Ascent, Open Energy, DayStar, Emcore, Akeena, Cyrium, Solar Enertech, Spire, Sencera, Octillion, Enviromission, Beacon, GridPoint, Standard Renewable, LiveFuels, BlueFire, Environmental Power, Dynamotive, Firefly, Axion, Electro Energy, Odyne, Ener1, China Solar, Energy Focus, Thermoenergy, Lighting Science, Promethean, Thermoenergy, Worldwater, Colorep, Hydro, Nanoptek, Magenn, and Entech Solar.
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