The prime focus of thin-film photovoltaics has been cadmium telluride (CadTel)-based PV, but that’s starting to change.

Case in point, MiaSolé.

The California company, which produces copper, indium, gallium and selenium (CIGS)-based PV recently attracted a new, $55 million round of financing to support its growth.

MiaSolé’s earlier investors, including VantagePoint Capital Partners, Kleiner Perkins Caufield & Byers, Bessemer Venture Partners, Firelake Capital Management and Passport Capital, doubled down on their investment with the new round of funding, according to MarketWatch.

The investment comes shortly after MiaSolé announced that it is producing PV modules with conversion efficiency levels of 14 percent, and it can achieve production of 17 percent efficient modules, the company’s CEO John Carrington said in a press release.

The modules also are being produced at a low capital cost, said MiaSolé Vice President of Global Business Development and Sales Rich Hossfeld.

“MiaSolé has an industry leading 50 cents per watt capital expenditure, which means that an investment of, say, $1 billion would yield 2 gigawatts of capacity,” he said. “Typically the capital is depreciated over a time of 5 to 7 years; 50 cents per watt depreciated over 5 years would equal 10 per watt in production cost. This is about half of competing technologies, meaning that MiaSolé has a 10 cents per watt cost advantage over those technologies.”

At this point the company has a facility capable of producing 150 megawatts of modules in Santa Clara, Calif. And it has delivered 55 megawatts of modules to projects in North America, Europe and Asia. “There are no immediate plans to expand,” Hossfeld said.

Such an expansion would require a much larger investment, according to Hossfeld.“With $30 0 million the capacity would be 600 megawatts,” he said.

Rather than furthering expansion the company now is focused on building out the commercial side of its business, with both glass-on-glass and flexible solar products.

“We have demonstrated technology leadership and are now focused on commercial performance: our investors have responded to that,” Carrington said in the release.