ATEL Ventures Commits $5MM in Equipment Lease Financing to 6N Silicon, Inc.

SAN FRANCISCO--(BUSINESS WIRE)--ATEL Ventures, a leading provider of secured financing to emerging growth companies, is pleased to announce it has committed $5 million in equipment lease financing to 6N Silicon Inc., a developer of solar-grade silicon purification technology whose revolutionary process features very low environmental impact and rapid scaling capability.

6N Silicon has experienced accelerating momentum in the photovoltaic industry as result of its proprietary process for purifying inexpensive, readily available metallurgical grade silicon into solar grade silicon using low cost metallurgical processing. The use of standard metal processing tools has allowed 6N to avoid the high energy requirements typical of traditional silicon processing plants.

“6N’s strong momentum and vision made it a compelling investment for ATEL,” said Steve Rea, Executive Vice President at ATEL Ventures, a division of ATEL Capital Group.

Paolo Maccario, 6N Silicon CEO, added, “We sincerely appreciate this support from ATEL and the relationship that we have built. Receiving this endorsement during the current economic cycle further validates our business model. This financing is allowing us to continue the expansion of our operations to satisfy our growing customer requirements.”