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Print Edition StoriesOpel Technologies Inc., a solar technology developer, has taken in a $5 million credit line from Silicon Valley Bank, the company noted in a press release.
The company, which has offices in both Shelton, Conn., and Toronto, makes high-concentration photovoltaic (HCPV) solar panels and dual- and single-axis solar tracker systems. It also develops III-V semiconductor devices for military, industrial and commercial use.
The $5 million line of credit is expected to support Opel’s patent portfolio that includes 35 issued and 12 pending.
Opel’s solar technology is based on work developed with the University of Connecticut in Storrs, Conn., and the National Research Council in Ottawa, Ontario, Canada.
Silicon Valley Bank, which has its headquarters in California and an office in Newton, provides financial services to both startups and established companies in the technology fields of life sciences and cleantech.
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