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
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
OmniGuide raises $25 million for non-invasive laser surgery
OmniGuide has raised $25 million in a fifth round of financing to expand its laser surgery business. The company, based in Cambridge, Mass., makes BeamPath, a flexible optical fiber used to guide CO2 laser beams in surgery.
New investor Psilos Group led the round and was joined by existing investors 3i, Argonaut Ventures, ESI, Gainesborough Investments, Stata Venture Partners and Westbury Partners.
The Beam Path has been used in more than 3,000 surgeries to date. The surgery… Continue Reading