Tag Archives: Solyndra

Solyndra Cancels IPO, Opts to Raise $175M from Existing Investors

President Obama at Solyndra with Chris Gronet less than one month ago: is the company less of a success story than we thought?

Another one bites the dust.

Solyndra canceled its planned initial public offering this morning ?due to adverse market conditions,? the company explained?in a filing with the U.S. Securities and Exchange Commission. ?Fremont, Calif.-based Solyndra will instead sell $175 million in convertible promissory notes to existing investors.

Solyndra chief executive Chris Gronet said that the funding will allow the company to meet its growth targets. He added: Continue reading Solyndra Cancels IPO, Opts to Raise $175M from Existing Investors

Solyndra Cancels IPO, Opts to Raise $175M from Existing Investors

President Obama at Solyndra with Chris Gronet less than one month ago: is the company less of a success story than we thought?

Another one bites the dust.

Solyndra canceled its planned initial public offering this morning “due to adverse market conditions,” the company explained in a filing with the U.S. Securities and Exchange Commission.  Fremont, Calif.-based Solyndra will instead sell $175 million in convertible promissory notes to existing investors.

Solyndra chief executive Chris Gronet said that the funding will allow the company to meet its growth targets. He added: Continue reading Solyndra Cancels IPO, Opts to Raise $175M from Existing Investors

Morgan Stanley’s Tech Group Loses Banker To Virgo Capital

Nathaniel Robinson, a merger and acquisition banker at Morgan Stanley, has joined Virgo Capital as a vice president in the Austin office of this tech-focused private equity fund.

Morgan Stanley is understood to be in talks with potential replacements, an industry source tells G.E.R.

Robinson was in Morgan Stanley’s Global Technology M&A group in Menlo Park, Calif. In his five years at the firm he worked on a number of cleantech deals with David Chen, the head of West Coast clean technology banking. Robinson declined to comment.

Morgan Stanley’s cleantech practice has been racking in a number of high profile mandates lately. Along with Goldman Sachs it is advising thin-film photovoltaic maker Solyndra on its $300 million IPO. It also got an underwriting gig as part of the $100 million IPO filed by Tesla Motors, the electric sports car maker.

Comparing the Lists: WSJ’s Top 10 Cleantech Companies v. Greentech Media’s Top 50

Just to be clear, GER is not on this list. Neat badge though!

Ever since the untimely and inexplicable demise of WSJ.com’s Environmental Capital, the Journal has only been dipping the occasional timid toe into the cleantech waters.

Now they’re back with a listicle that names Solyndra, Inc., the top cleantech company, followed by Suniva and eSolar. The (no doubt highly scientific) criteria NewsCorp.-owned VentureSource used to determine the rankings are hidden from view. How does this list stack up against Greentech Media’s (no doubt highly scientific) top 50VC-Funded Greentech Startups list?

Continue reading Comparing the Lists: WSJ’s Top 10 Cleantech Companies v. Greentech Media’s Top 50

BrightSource Gets $1.37 bln DOE Loan Guarantee For Ivanpah Project, Whoa!

BrightSource Energy was offered a $1.37 billion loan guarantee from the Department of Energy on Monday, the largest such loan awarded by the DOE –see official press release here. The Oakland, Calif.-based company will use this crucial government backing to secure financing to support construction of its 440-megawatt Ivanpah Solar Power Complex, located in a six square miles (15.53 square kilometers) area on the Nevada side of the Mojave Desert, owned by the Bureau of Land Management (BLM). Continue reading BrightSource Gets $1.37 bln DOE Loan Guarantee For Ivanpah Project, Whoa!

BrightSource Gets $1.37 bln DOE Loan Guarantee For Ivanpah Project, Whoa!

BrightSource Energy was offered a $1.37 billion loan guarantee from the Department of Energy on Monday, the largest such loan awarded by the DOE –see official press release here. The Oakland, Calif.-based company will use this crucial government backing to secure financing to support construction of its 440-megawatt Ivanpah Solar Power Complex, located in a six square miles (15.53 square kilometers) area on the Nevada side of the Mojave Desert, owned by the Bureau of Land Management (BLM). Continue reading BrightSource Gets $1.37 bln DOE Loan Guarantee For Ivanpah Project, Whoa!

Solyndra Racks Up Nearly $200M in VC Cash in 09

Solyndra, the California maker of thin-film photovoltaic cells, received the most amount of venture capital cash in 2009, raising $198 million. Its backers are counting on a hefty payday with the company having recently filed for an Initial Public Offering (IPO). A123 Systems, the Massachusetts battery maker, which IPOed last fall, raised $100 million, according to data compiled by market research firm the CleanTech Group. Swiss smart meter maker Landis + Gyr, smart grid developer Silver Spring Networks and V-Vehicle, a clean vehicle manufacturer, also each raised $100 million last year — see charts below the fold. Continue reading Solyndra Racks Up Nearly $200M in VC Cash in 09

It’s Been the Best of Times and the Worst of Times for Cleantech Investing in ’09

Let’s start with the good news: In 2009 cleantech became the dominant category in venture capital investing, attracting$5.6 billion in new investments worldwide. That’s more than IT or biotechnology, which until recently attracted the majority of VC investments. So says a report released today by the Cleantech Group and Deloitte. Continue reading It’s Been the Best of Times and the Worst of Times for Cleantech Investing in ’09

Solar Panel Maker Solyndra Scores $105M Deal with Italian Company

Solyndra Solar Panels - RetakeSolyndra, the California maker of thin-film photovoltaic cells (PV), has signed a supply agreement with Italian installer Sun System. Solyndra could make $105 million over the next few years from this deal, the company said in a statement.

Milan-based Sun System plans to install Solyndra’s solar cells, which Solyndra will manufacture at its Fremont and Milpitas, Calif. facilities, on commercial rooftops in sun-drenched southern Italy. Continue reading Solar Panel Maker Solyndra Scores $105M Deal with Italian Company