Driving Down The Cost Of Solar, 1366 Technologies Raises $20 Million

Before solar can become mainstream, the cost of producing the industry's basic component, the solar wafer, will need to drop dramatically. Solar startup, 1366 Technologies is trying to do just that by innovating the manufacturing process with the hope of generating energy from "solar at the cost of coal" — a tag line prominently displayed on 1366's homepage. 1366 Technologies is now one step closer. On Tuesday, the Lexington, Massachusetts-based company announced that it has raised $20 million in a Series B funding round from Ventizz Capital Fund, Hanwha Chemical (a highly diversified Korean chemical firm), and previous investors, North Bridge Venture Partners and Polaris Venture Partners.