Stion Raises $15 Million Series B
June 25, 2007
For Immediate Release
Next-generation solar photovoltaics company develops high-efficiency thin-film modules to minimize the total installed system cost of solar electricity
MENLO PARK, California (June 25, 2007) — Stion (www.stion.com), a next-generation solar photovoltaics company developing high-efficiency thin-film modules comprised of proprietary materials, announced that it has raised a $15 million Series B financing led by Lightspeed Venture Partners (www.lightspeedvp.com). General Catalyst Partners (www.generalcatalyst.com) also participated, as did all three existing investors — Khosla Ventures (www.khoslaventures.com), Braemar Energy Ventures (www.braemarenergy.com) and Moser Baer Photovoltaic (www.moserbaer.com). Peter Nieh, a Partner at Lightspeed, will join Stion’s Board of Directors.
Stion is aiming to minimize the total installed system cost of solar electricity. The Company will use the Series B funds to accelerate its product development efforts. “We are very pleased with the addition of Lightspeed and General Catalyst to our investor base,” said Chet Farris, Stion’s President & CEO. “Our technology is primed for the next phase of development, and the proceeds from this round will take us to early commercialization phase.”
Headquartered in San Jose, CA, Stion is a leading manufacturer of high-efficiency thin-film solar modules based on state-of-the-art materials and device technology and proven production processes. In September 2011, Stion opened its first mass production facility in Hattiesburg, MS. Visit www.stion.com.
For more information
- Frank Yang
- Manager of Business Development
- (408) 284-7205
About Braemar Energy Ventures
Braemar Energy Ventures is a venture capital fund making early- to mid-stage investments in the energy technology sector. The firm's principals have invested in more than 60 companies in the sector and have more than 100 years of combined technical, operational and financial experience in energy and energy-related industries. Braemar partners with exceptional companies and management teams, in both alternative and traditional energy markets, that can contribute to a more profitable and efficient energy landscape through innovation and marketplace expertise. Additional information is available at BraemarEnergy.com or on Twitter at twitter.com/braemarenergy or @BraemarEnergy.
For more information
- Alison McIntyre
- Prosek Partners
- (212) 279-3115 x269
Lightspeed Venture Partners combines extensive venture capital and operating experience to assist entrepreneurs in creating industry-leading technology companies. Lightspeed manages $1.3 billion in committed capital and focuses on early-stage investments in the U.S., Asia and Israel. For more information, please visit: www.lightspeedvp.com.
About General Catalyst
General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals’ extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has approximately $1 billion under management and is headquartered in Cambridge, Mass. For more information, please visit: www.generalcatalyst.com.