Aliso Viejo-based XsunX Inc. said Monday it raised $10.9 million in venture funds.
The company, which is developing a film that lets glass windows produce electricity, said Jersey City, N.J.-based Cornell Capital Partners LP led the round of funding.
XsunX can take up to $10 million of the funds in the next two years, according to the deal. Each draw is for a maximum of $250,000. Convertible bonds make up $850,000 of the funding round.
“The renewable energy sector has attracted growing interest from the investment community,” said David Ratzker, vice president, corporate finance of Cornell Capital.
Tenants of buildings that have the company’s Power Glass films can see through the windows, which produce electricity that can be used to decrease dependency on local utility supplied power.
Chief Executive Tom M. Djokovich said the funding would help XsunX move closer to commercializing Power Glass.
