PVT Solar raises $13.7M, names CEO (San Francisco)
PVT Solar Inc. raised $13.7 million in its second round of venture funding and made Vikas Desai its CEO.
Desai worked previously at SunPower Corp. (NASDAQ: SPWRA), where he was general manager of the residential and light commercial business unit.
Berkeley-based PVT Solar developed "Echo," a system that uses photovoltaic panels and also the heat from them in producing power and hot water.
Josh Plaisted and Gordon Handelsman started PVT Solar.
Sigma Partners, Khosla Ventures and Energy & Environment Investment, Japan, gave the $13.7 million. Khosla Ventures led PVT Solar’s first round of venture funding.
The company is hiring for several other jobs.
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