Solar panel demand finally catching up with supply
One of the biggest, most depressing stories in the solar industry has been the oversupply of panels, which drove down prices and discouraged investors for most of 2009. Now, new research out of trade research firm iSuppli, suggests that demand will catch up with supply by the end of next year — good news for the growing number of solar panel and component makers.
One of the forces deflating demand was a rollback of solar subsidies… Continue Reading
CMEA pulls plug on $500M late-stage cleantech fund
CMEA Capital has decided against raising a new $500 million fund to back late and growth-stage cleantech companies, Dow Jones VentureWire reported earlier today. The news is interesting for two reasons: 1) It suggests a shift in strategy for CMEA, one of the largest investors in the green space, according to yesterday’s Greentech Media report on the sector; and 2) It may be further proof of cleantech’s rebound from the downturn — venture firms like… Continue Reading
Green investing bounces back from recession
Venture Capital investment in green technology companies has jumped to tie pre-recessionary levels, according to a new report out of Greentech Media. With $1.9 billion spread over 112 deals, this year’s third quarter trounced figures from earlier this year, signaling a stronger than anticipated comeback for the sector, which took a beating during the economic downturn last fall.
To put the recent numbers in context: the second quarter this year saw $1.2 billion distributed across 85… Continue Reading
Energy Dept., Treasury announce $550M more in grants for green energy projects
Today, Treasury secretary Timothy Geithner and Energy secretary Stephen Chu joined forces to announce $550 million more in cash awards for 25 cleantech energy projects and companies under the banner of the U.S. stimulus package. So far, the government has provided more than $1 billion in financing to jumpstart the sector, which took a hit in private investment following the economic downturn.
The primary goal behind the money is of course to create new green-collar jobs… Continue Reading
Gov’t shines on Solyndra with $535M loan guarantee
Vice president Joe Biden and Department of Energy Secretary Stephen Chu joined forces this morning to officially bestow the $535 million loan guarantee on Fremont, Calif.-based Solyndra, one of the leading makers of cylindrical solar panels. The company plans to build a photovoltaic equipment plant large enough to employ 1,000 people permanently.
Talk of the guarantee isn’t new — in fact, the DOE extended it to the company back in March and then waited for it… Continue Reading
SPG Holdings brings in $13 million for solar projects
SPG Holdings, parent company of solar system design firms SPG Solar and Thompson Technologies Industries, has raised $13 million in equity from the Global Environmental Fund and Robeco, according to VentureWire.
Based in Novato, Calif., SPG says it will use the funds to expand its market presence in the U.S. and abroad. Its solar companies create and sell photovoltaic installations for residential and commercial use in California, Arizona and Oregon. Earlier this year, it partnered with… Continue Reading
Roundup: Solyndra scores major green, Windows braces for worm, car takes to the skies and more
Department of Energy shines on Solyndra — The solar company landed a $535 million loan to continue developing its technology. The New York Times has more.
A wormy April Fool’s Day — The Conficker computer worm is set to be unleashed on April 1, exploiting Windows weaknesses to create millions of zombie computers. “Joke or apocalypse?” asks the New York Times.
Study says, “Do or do not, there is no try” — A new Harvard Business School study of venture-backed… Continue Reading
Sierra Solar snags $40M for cheaper thin-film
One of the major barriers standing in the way of solar power’s wider adoption is its high cost. Sierra Solar plans to address this problem by offering cheaper thin-film photovoltaic cells, and just raised $40 million in a second round of funding to do it.
The Fremont, Calif. company achieves its cost-effective prices by manufacturing its products in China. On the use side, Sierra’s cells are reportedly 16 to 17 percent efficient (the average is 15 percent… Continue Reading
Solar co. Solyndra shines with $220M
Solar installation maker Solyndra has every reason to celebrate the new year, raising $219.2 million in fifth-round funding from a flock of 23 investors. This is the second largest investment received by any U.S. cleantech company in the last year, coming in behind the $300 million bagged by competitor Nanosolar. The amount breaks down into $96.6 million in working capital and $122.2 million in convertible promissory notes.
The Fremont, Calif. company has not disclosed its plans… Continue Reading
Innovalight rakes in $5M for solar cell ink
Investors Leader Ventures and Silicon Valley Bank have shined on solar cell company Innovalight, providing $5 million in new financing toward the development of silicon solar modules so small they can be painted onto surfaces like ink.
The Sunnyvale, Calif. company uses liquid processing of silicon to produce nanosize solar prarticles that are not only more efficient than crystalline wafers, but also much cheaper to make than regular solar panels. It received $28 million last year… Continue Reading
Solar: Solyndra finally shows its hand
Most of the heavily-funded solar panel makers out there have let the public know what they’re working on, if not all the specifics of their technology. So it’s somewhat remarkable that Solyndra has managed to stay stealthy for over three years, all while accumulating over half a billion dollars in funding.
Some details have emerged, to be sure. But the company has now opened up for the first time to give hard details on its product,… Continue Reading
A123 and Imperium exemplify the boom and bust of cleantech
There’s a bad moon on the rise for Imperium Renewables. The biodiesel maker has lost a major contract that was one of the lynchpins holding the company together, according to the Seattle PI’s John Cook, who has been chronicling the company’s rise and fall.
Imperium, as you may recall, is a biofuel startup founded in 2004. It hit a growth streak in 2006 and secured a massive $113 million investment the following year, as hype grew… Continue Reading
Roundup: Former AOL execs face fraud charges, MetroFi throws in the towel, fingerprinters point fingers, and more
AOL execs add oddly, allege examiners — Eight AOL executives are facing fraud charges at the conclusion of a six-year long investigation by the Securities and Exchange Commission into alleged revenue overstatement of $1 billion during the company’s merger with Time Warner. Four of the men have already settled. Given the company’s historic performance, it’s surprising the remaining four haven’t gotten away with pleading incompetence. More at the WSJ.
MetroFi municipal WiFi throws in the towel… Continue Reading
Duke Energy invests $100M in rooftop solar projects
Duke Energy — hardly your conventional renewable energy startup — has thrown its hat in the solar ring with a $100 million investment in commercial-scale rooftop solar panels.
The Charlotte, North Carolina, based electric utility will partner with commercial and residential property owners to tap into a growing market that has seen large investments in recent months from major utilities like Southern California Edison, which unveiled its own $875 million rooftop project in late March.
Like SCE,… Continue Reading
HelioVolt claims CIGS thin film efficiency record
HelioVolt CEO BJ Stanbery is set to announce that his company has set a new speed record for CIGS conversion efficiency, ratcheting up the pressure in the competitive, high-stakes thin-film solar cell sector. The Austin, Texas, start-up, which raked in a cool $101 million in second round funding last October, claims its proprietary FASST reactive transfer printing process can produce cells with a 12.2% conversion efficiency in a mere 6 minutes.
This latest technological breakthrough comes… Continue Reading
Silicon Valley’s new solar cell companies slipping on delivery dates
Amid all the excitement about new solar technology, several promising companies are slipping on their delivery dates.
However, most of the companies still say they plan to deliver — it’s just a matter of time before they hit the market
Solyndra, a Santa Clara, Calif. solar company (see VB’s coverage), has seen one of its executives, Monier Nessim leave, after that company returned to more basic research and development, instead of push on toward production. Investors Redpoint… Continue Reading
Stealth Silicon Valley solar cell developer Solyndra gets $79M
A secretive solar cell developer Solyndra, based in Santa Clara, Ca, has received $79.2 million in venture capital, according to New Energy Finance, a London research group. The money apparently comes from Redpoint and CMEA, to Silicon Valley venture capital firms, reports VentureWire separately (sub required).
The information emerged as part of New Energy Finance’s report on investments in alternative energy, which showed that venture capital and private equity firms poured some $2.23 billion into the… Continue Reading