Intel’s global investment organization, Intel Capital, led a $134 million total equity round with a $38 million investment in Sulfurcell, a German developer and manufacturer of thin-film solar modules, which are made from materials in the CIS/CIGS (Copper Indium Gallium Selenide) branch of chemicals.

The hefty investment comes as part of Intel Capital’s focus on cleantech, including alternative power generation and storage, energy efficiency and transportation.

Cleantech investments have becomes “a key focus for Intel Capital, particularly in the wake of global warming concerns and rising energy costs for businesses and consumers,” said Intel Capital president and Intel executive vice president Arvind Sodhani in a statement.

Currently, many commercial solar cells are produced with “first generation” technologies. But, with thin-film technology as a likely means of greatly reducing the cost of photovoltaic systems, the investment in Sulfurcell serves as a big step towards cheaper (and thinner) “green.”