Stion produces high-efficiency thin-film solar modules using a simple, low-cost monolithically integrated circuit design and state-of-the-art materials and device technology. Its modules have a 65 cm x 165 cm form factor and Stion reported a production-scale monolithic thin-film circuit verified at 14.1% efficiency by NREL. The company is headquartered in San Jose, California and recently opened a mass production facility in Hattiesburg, Mississippi. Stion is continuing planned expansion of the Hattiesburg facility and will establish a subsidiary, Stion Korea, to build a thin-film module factory to serve Asian and European markets. As part of its strategic growth, Stion said it will make a $35M initial investment into Stion Korea and pursue collaboration to lower costs and improve module efficiency through equipment development. Stion is a San Jose, Calif.-based startup developing thin-film solar panels using CIGSS (copper indium gallium sulfur-selenide) technology. Its core product is CIGSS thin-film photovoltaic panels and the company has been working to move from laboratory testing to commercial sales. Under a recent deal, TSMC bought a $50 million stake, signed a licensing and joint development agreement, and will manufacture the solar modules Stion needs to commercialize its products. The agreement effectively transfers the CIGSS design to TSMC, according to the article. Stion previously raised $6 million in 2006 and $15 million in 2007 and has backing from investors including Khosla Ventures, General Catalyst Partners, Braemar Energy Ventures, Moser Baer Photovoltaic and Lightspeed Venture Partners. The company has benefited from corporate financing amid a broader pullback by venture capital away from thin-film projects.

Total raised

$200M

Funding rounds

2

Latest round

Equity

Latest activity

Dec 2011