Sunlight Photonics, Inc. announced the completion of a $750,000 debt private placement which was initiated last month. The non-brokered offering was subscribed by VenEarth Group LLC. The company raised an estimated $5,625,000 via five offerings until now. Sunlight was originally backed by MicroUnity Systems Engineering, Inc., a company specialized in microprocessors research and development lead by John Moussouris. In 2009 MicroUnity folded its sustainable and green technology investments in VenEarth Group LLC, a vehicle designed to reduce the impact farming has on the environment.
Sunlight Photonics is developing low cost, high efficiency renewable energy sources based on solar power. The company leverages the advantage of both thin-film and crystalline semiconductor photovoltaic (PV) technologies to deliver affordable solar power for both terrestrial and extraterrestrial applications. Its flexible and stretchable Thin-Film Multi-Junction cells and modules offer a host of applications in many industries from transportation to mobile electronics.
The company, headquartered in South Plainfield NJ, was founded in April 2008. It is lead by Michael Cyrus (President and CEO). The executive team includes Allan Bruce (Materials), Sergey Frolov (Technology) and Jodi Maria Ciongoli (Operations).