Posts tagged as:

Solyndra

AQT opens thin-film solar plant despite shaky market

by Camille Ricketts on August 12, 2010

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Thin-film solar, once predicted to be the future of renewable energy, has fallen on hard times lately. Venture-backed thin-film companies have had a tough time raising money, and even the bigger players like Applied Materials have scaled back their goa… Continue reading

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3 Stealthy Solar Startups You Should Know

by Katie Fehrenbacher on April 6, 2010

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Where’s the innovation in solar these days? The thin film solar companies that raised hundreds of millions of dollars a couple years ago (Nanosolar, Heliovolt, Miasole, Solyndra) are now struggling to reach commercial-scale production, while utility-… Continue reading

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Solyndra Generated Over $100M in Revenue Last Year

by Katie Fehrenbacher on March 17, 2010

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Solyndra, the thin film solar startup that filed for an IPO back in December has updated its latest financial figures for the fiscal year that ended January 2, 2010 in an amended S-1 filing on Tuesday. According to the document Solyndra brought in revenues of $100.47 million for the fiscal year that ended on January 2, 2010, up from $6.01 million for the fiscal year that ended on January 2, 2009.

Now that is some crazy revenue growth. Solyndra started commercial shipments back in July 2008 and produced 30.5 MW for the fiscal year that ended January 2010, compared to 1.8 MW for the fiscal year that ended January 2009. Solyndra is looking to boost capacity even more, and says in its filing that it is looking to “expand from our current annualized production run rate at Fab 1, which was 54 MW during our fiscal month ended January 2, 2010, to our estimated 110 MW annualized production run rate by the fourth fiscal quarter of 2010.”

At the same time that Solyndra is boosting manufacturing capacity it also seems to be successfully shoring up its losses. The company’s latest 2010 financials show a loss of $172.50 million for fiscal year that ended January 2, 2010, compared to a loss of $232.07 million for the fiscal year that ended January 2, 2009. However, Solyndra still has an accumulated deficit of $557.7 million as of January 2, 2010.

Solyndra’s major solar integrator customers for the fiscal year that ended January 2009 included Geckologic GmbH, and Phoenix Solar AG, and for the fiscal year that ended January 2010 included USE Umwelt Sonne Energie GmbH, Alwitra GmbH, Carlisle Syntec Incorporated, and Sunconnex B.V.

The company, which makes a tubular solar design for rooftops, still faces a lot of challenges in 2010. Of course there’s its pending IPO to worry about. But the company is also looking for a second loan guarantee from the DOE (it already received the first loan guarantee back in May 2009) in the amount of $469 million to partially fund Phase II of its factory production.

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Q4 Wrap-up: Ending 2009 on a Greentech High

by Pedro Hernandez on January 21, 2010

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What a year. Coasting on the momentum that propelled cleantech to the forefront of venture capital investment in Q3, the fourth quarter capped off a year that, when all was said and done, saw a total of $4.85 billion invested in the sector. However, as… Continue reading

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A123Systems Was Officially the Largest IPO of 2009

by Katie Fehrenbacher on January 3, 2010

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One more look back at 2009 — the $371 million IPO of lithium battery maker A123Systems back in late September, was the largest of last year, according to a report from Dow Jones VentureSource. Investors definitely had confidence in the company on Sep… Continue reading

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Why Tomorrow’s Solar Leaders Will Hail From Chips

by Katie Fehrenbacher on December 23, 2009

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When politicians lace their campaign speeches with “green jobs” jargon, many point to the potential of the solar industry to offer manufacturing and installation jobs. But to be the leader of a cutting edge solar company, there’s one major qualif… Continue reading

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Which Greentech Firms Will IPO in 2010?

by Katie Fehrenbacher on December 21, 2009

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Will 2010 be the year for greentech IPOs? When lithium ion battery maker A123Systems successfully debuted on the Nasdaq back in September, there was much speculation that the move would ready the market for a following of greentech IPOs. The notion see… Continue reading

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Solyndra Raised Close to $1B, and Other Fast Facts From Its S-1

by Katie Fehrenbacher on December 20, 2009

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One of the most interesting parts about a startup registering for an IPO is that the company has to file an S-1 form, which is made publicly available on the Securities and Exchange Commission’s web site. If the startup is particularly stealthy, then… Continue reading

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