BIG $ TO SOLYNDRA’S SOLAR BREAKTHROUGH

Solyndra raises nearly $220M; Solar power technology company Solyndra raises second largest cleantech deal of 2008
31 December 2008 (Reuters via Private Equity Week)

“Solyndra has raised $219.2 million in a Series E financing from 23 investors, according to a regulatory filing, making it the second largest U.S. cleantech financing in 2008…"

A Solyndra rooftop installation. (click to enlarge)

“The Fremont, Calif.-based company makes copper indium gallium selenide (CIGS) solar power installations. Its latest financing round is smaller than the $300 million raised by CIGS manufacturer Nanosolar, but larger than the $200 million financings reported for Miasolé and SoloPower earlier this year.

“The financing includes $96.6 million in “working capital” and $122.2 million for the “conversion of convertible promissory notes into Series E preferred stock,” according to the filing. Financiers in the deal included Argonaut Ventures, U.S. Venture Partners, CMEA Ventures and Redpoint Ventures…”