$13.7M, New CEO for PVT Solar
San Francisco-based PVT Solar, which builds solar panels that generate both electricity and heat, said this week that it has closed a $13.7M Series B financing round led by Sigma Partners, with Khosla Ventures and Japan’s Energy & Environment Investment joining in. Khosla led PVT Solar’s Series A round last year. The company also said that Vikas Desai, the former vice president and general manager of SunPower’s residential and light commercial business unit, has been appointed CEO. PVT Solar hopes to sell its “Echo” panels—which pull heated air through vents placed underneath the photovoltaic panels—to homeowners who want to reduce their electric bills while also powering heat exchangers that supplement their home hot-water systems.