Cyrium Technologies Raises $15 Million

Ottawa’s Cyrium Technologies announced today that they have closed a $15 Million Series B round of funding. The round was led by The Quercus Trust of Costa Mesa, CA. Major investors from previous rounds of financing also participated in this round including: BDC Venture Capital, Chrysalix Energy Venture Capital, and Pangaea Ventures Ltd.

Cyrium is a developer of solutions in the solar renewable energy field. Cyrium’s solar cell technology improves power generation while reducing its cost thereby making large scale power generation using concentrator photovoltaic (CPV) systems commercially feasible.

Funds from the Series B round will be used to further the development and testing of Cyrium’s photovoltaic solar cell products and establish volume manufacturing.

Update: Cyrium was included in a 13 Startups Working on Solar-Concentrating PV list over on GigaOM’s earth2tech site today.