solyndra

Robots meet solar at Solyndra Fab 2

Robotics manufacturing tends to evoke visions of a John Henry-esque scenario in which competent women and men lose jobs to hunks of automated metal.

But in the case of Solyndra it may be robots that help American workers compete more effectively against China's low-cost labor force.

Consider the video that solar manufacturer Solyndra released this week illustrating how thin-film CIGS (copper, indium, gallium, and selenide) solar modules are produced.

In reality, the video (see below) is a showcase for the company's new state-of-the-art solar manufacturing plant, built with a $535 million federal loan guarantee from the Department of Energy, … Read more

Solar upstart Solyndra mothballs IPO plans

Solar company Solyndra has canceled its plan to raise money through an initial public offering on the stock market, opting to raise money from existing investors instead.

The Fremont, Calif.-based company on Friday filed a "registration withdrawal" request with the Securities and Exchange Commission, saying that it has changed course due to "adverse market conditions."

On Thursday, Solyndra said that it has raised $175 million from existing venture capital and private equity investors.

"Given the ongoing uncertainties in the public capital markets, we elected to pursue alternative funding from our existing investor base. This … Read more

Solyndra auditors cast doubt over solar upstart

Updated on April 7 with response from Solyndra.

Solar company Solyndra's current finances raise "substantial doubt" over the start-ups ability to operate as a going concern, according to the company's auditor.

Solyndra is one of handful of energy technology companies seeking to go public this year to raise money and scale up its operations. It is also one of the few companies to secure a loan, worth $535 million, from the Department of Energy's loan guarantee program.

In an audit of its finances earlier this year, PricewaterhouseCoopers noted that the company is heavily in debt, … Read more

California solar outfit Solyndra files to go public

In a sign of optimism about the stock market's reception to clean energy start-ups, California solar company Solyndra on Friday filed documents to go public.

The Fremont, Calif.-based company said it plans to raise $300 million in a public stock offering to expand into a market it projects to grow at 34 percent annually.

Four-year-old Solyndra makes a very specialized solar module designed for flat commercial rooftops. The system, which looks like long rows of black tubes, uses flexible thin-film solar cells shaped as a half cylinder to generate electricity from sunlight. The shape increases the amount of … Read more

Energy Dept. delivers solar loan to Solyndra

Demonstrating that it plans to act quickly with clean-energy loans, the U.S. Department of Energy has made $535 million available to solar start-up Solyndra.

The loan guarantee, announced on Friday, is the first to be approved by the Department of Energy in four years. As part of a broader government stimulus plan, the administration of Energy Secretary Steven Chu has committed to quickly disbursing loans to clean-energy companies.

For Solyndra, the loan will partially finance construction of a second factory in California. The 4-year-old company, based in Fremont, Calif., has designed cylinder-shaped solar cells that are assembled onto arrays … Read more

Solar start-up scores with series of tubes

Solyndra, a start-up making thin-film photovoltaic systems, has secured $600 million in funding.

It's additionally secured $1.2 billion in contracts from clients in the U.S. and Europe, the Fremont, Calif.-based company revealed Tuesday.

What start-up gets that kind of funding and client promise? Basically, one that's invented thin-film solar panels shaped like old-school fluorescent lightbulbs.

Since 2005, Solyndra has quietly been developing a proprietary CIGS-based thin film photovoltaic (PV) system and a staff of more than 500 employees.

CIGS is a material that includes a combination of copper, indium, gallium, and selenide. It's now … Read more

Nanosolar gets big customer, $50 million more in investment

Renewable energy provider EDF Energies Nouvelles has plunked $50 million into Nanosolar and will get access to output from Nanosolar's factories in 2009.

Nanosolar specializes in copper-indium-gallium-selenide (CIGS) solar cells. CIGS cells aren't as efficient as silicon solar cells, but they cost less and can be integrated into building materials. Nanosolar's cells can be printed on thin, flexible sheets of metal.

The company became one of the first to start producing CIGS commercially when it started cranking out production in December. Some other competitors have had to delay production. Right now, only Global Solar in Arizona also … Read more

Rumor: Nanosolar worth $2 billion, Solyndra $1 billion

CIGS looks like it could pay off.

Nanosolar and Solyndra, which both develop copper-indium-gallium-selenide (CIGS) solar cells, are looking at raising additional funds, according to sources, and both companies have put large valuations on themselves.

According to sources, Nanosolar is telling investors it will have a valuation, after another round of funds, of around $2 billion. Solyndra says it is worth $1 billion. Not bad for companies with combined current revenues at the moment that probably would have difficulty rivaling the take of a reasonably located convenience store. Nanosolar just started shipping a few solar cells to customers at the … Read more