Friday, January 7, 2011
RayTracker Acquired By First Solar
Pasadena-based RayTracker, a developer of solar tracking technology which is backed by Idealab, has been acquired by solar power module giant First Solar. Financial terms of the acquisition were not announced. First Solar said that RayTracker's entire team will join its Engineering, Procurement and Construction (EPC) group. RayTracker was venture backed by Idealab, The Quercus Trust and Phoenix Fire IV, LLC. RayTracker was a spinout of Energy Innovations, the Idealab portfolio company which develops solar concentrators.