MTPV (Austin, Texas) expects to receive another $2 million in funding, bringing the total for the funding round to $8.5 million, according to the filing, made with the U.S. Securities and Exchange Commission. The filing did not name the investors.
According to MTPV’s website, the firm’s modular semiconductor chips can generate electricity using 45 percent less heat than traditional systems. The company claims advantages in solid state design, scalability, miniaturization and power density that it says have the potential to create revolutionary products for markets.
MPTV was established in 2008 by a group of founders including Bob DiMatteo to continue R&D and commercialization of micron-gap thermal photovoltaic (MTPV) technology developed at the Massachusetts Institute of Technology, according to the company’s website. MTPV, described as a means of directly converting heat or sunlight to electricity, was developed by DiMatteo and his team at MIT, according to the company’s website.
Last October, MTPV was named best venture by the U.S. Department of Energy’s National Renewable Energy Laboratory’s 23rd Industry Growth Forum.
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.