Tuesday, December 20, 2011

Stion Collects $130M

San Jose-based Stion, which manufactures thin-film solar modules for the solar power industry, announced today that it has raised $130M in an equity funding round. The round was led by AVACO and Korean private equity funds, and also included prior investors Khosla Ventures, Taiwan Semiconductor, Lightspeed Venture Partners, Braemar Energy Ventures and General Catalyst Partners. According to Stion, the funding will go towards expansion of its manufacturing facility in Hattiesburg, Miss. Along with the investment, Stion said that it will be investing $35M into a Korean manufacturing subsidiary, Stion Korea, which will serve the Asian and European markets. Stion is led by Chet Farris. AVACO is a provider of thin film processing equipment, used for thin film PV module manufacturing. More information »