Solar startup Stion raises $130M, lands in Korea

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Solar startup Stion raises $130M, lands in Korea

whowireduniedit

2011.12.23 (16:22:14)

thin film solar company Stion.jpg

Thin film solar startup Stion has raised a massive $130 million round of funding led by Korean investors. Looks like the days of investors pumping money into thin film solar startups aren’t yet over.

Stion announced on Tuesday that the $130 million in funding was led by AVACO and Korean private equity funds and also included investors Khosla Ventures, Taiwan Semiconductor, Lightspeed Venture Partners, Braemar Energy Ventures, and General Catalyst Partners. Stion raised a Series D round of $70 million in June of 2010, and had also been considering an IPO, though the IPO markets in 2011 have been weak for greentech firms.

With the funding, Stion will open up a Korean factory and Korean subsidiary. Korean conglomerates seem to have the funds and interest to scale up these CIGS solar companies. Korean company SK Group also pumped $50 million into thin film solar company HelioVolt.

[Via] GigaOm

[Image] CNET

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thin film solar company Stion.jpg(142.8KB)[4]

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