# Advanced Solar Power (Hangzhou)

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/advanced-solar-power-hangzhou

- Industry: Renewable Energy
- Headquarters: Hangzhou, China
- Website: www.advsolarpower.com
- Total disclosed funding: $9.5M
- Latest round: Series C (Jan 1, 2010)
- Investors on record: 4

## About

Advanced Solar Power (Hangzhou) Inc. is a company focused on developing and commercializing innovative cadmium telluride (CdTe) thin-film solar technology. Their work emphasizes sustainability and energy efficiency in modern architecture.Advanced Solar Power (Hangzhou) Inc. specializes in solar technology, particularly in cadmium telluride thin-film solar cell technology. The company was founded by Ben Wu, who has a history of entrepreneurial ventures. Headquartered in Hangzhou, China, Advanced Solar Power recently secured CNY 100 million in funding on November 18, 2022, led by ET Capital with participation from several other investors. This funding round represents the total amount raised by the company thus far.Advanced Solar Power develops various photovoltaic modules, including the ?? series and ?? series, which cater to building-integrated photovoltaics (BIPV) applications. Their products enhance energy efficiency and sustainability by integrating solar technology into materials like facades and roofing systems, targeting construction firms and real estate developers across urban centers in China and looking toward international markets.The revenue model for Advanced Solar Power is based primarily on B2B transactions, supplying solar products to contractors and developers for construction projects. The company engages in direct sales and is exploring partnerships with retailers and wholesalers. Their flagship product series is positioned as a premium offering, with pricing tailored to the specifications of each project, fostering long-term client relationships in the renewable energy sector.The recent capital raised in November 2022 will be allocated towards technology development and the construction of production lines. Advanced Solar Power plans to expand into new markets, specifically targeting further growth in urban centers across China and potential international markets. The company aims to continue innovating its product offerings while enhancing its production capabilities to meet the increasing demand for renewable energy solutions.

## Funding rounds

- Series C, Jan 1, 2010 — CDH Investments
- Series B, Dec 1, 2008, $8M — Legend Capital, NLVC
- Series A, May 1, 2008, $1.5M — Legend Capital, 5Y Capital

## Investors

- Legend Capital — Series A, Series B
- 5Y Capital (https://capitalatlas.ai/funds/5y-capital) — Series A
- NLVC (https://capitalatlas.ai/funds/nlvc) — Series B
- CDH Investments (https://capitalatlas.ai/funds/cdh-investments) — Series C