Wednesday, June 16, 2010

Stion Gets $50M From TSMC

Menlo Park-based Stion, a developer of high-efficiency, thin-film solar photovoltaic modules, has scored $50M in a funding round from Taiwan Semiconductor Manufacturing Company, Ltd., TSMC said Wednesday. According to TSMC, it is taking a 21 percent stake in Stion versus its affiliate VentureTech Alliance for the $50M investment. TSMC also said the two companies have reached a number of agreements covering technology licensing, supply, and joint development. Stoin has previously raised funding from Braemar Energy Ventures, General Catalyst Partners, Khosla Ventures, Lightspeed Ventures, and Moser Baer Photovoltaic. Stion is headed by Chet Farris. More information »