Natcore Technology Inc. announced Tuesday that the company has closed on a private placement of more than $3.1 million due to investments from the Rochester community.
Natcore, with research and development in the Eastman Business Park, says the cash came as proceeds from the sale of 125.8 units at $25,000 each. Company officials declined to identify the investors, other than to say they came from the Rochester area.
The money will be used to develop Natcore technologies and for working capital.
Natcore is the exclusive licensee of thin-film technology that creates silicon oxides on silicon wafers through a patented liquid phase deposition process. It also owns patents for its low-cost, light-absorbing black silicon solar cells.