Abound Solar Inc.

Abound Solar is solar modules manufacturer. It had its origin in 1991 in Colorado State University, with research initiated into semiconductor vapor deposition by W.S. Sampath, the founder of the company. In 1998, he developed the pilot production process featuring inline deposition of cadmium telluride with a subsequent patent for a low-cost, high-throughput semiconductor deposition and scaling up of the process in 2002 and 2004 respectively. W.S. Sampath, Kurt Barth, and Al Enzenroth incorporated Abound Solar, then known as AVA Solar in 2007 .

This is a privately held company. In 2010, the company had a total production of 30 MW solar modules .
The company has around to 350 employees. The company is headquartered in Loveland, Colarado, US. It also has its R&D lab and the production facility in Colorado. The company also has a European office in Muchen, Germany. The company also has a research and development lab in Torrance, California.

Business line, products and service offerings:
Abound Solar has installations around the world, ranging from a few kilowatts to multiple megawatts in both roof- and ground-mount applications. Abound Solar produces cadmium telluride (CdTe) thin-film soalr modules. CdTe technology is regularly recognized for achieving the lowest production costs of all photovoltaic technologies. The company designs commercial- and utility-scale applications. Abound modules are 60cm x 120cm (2ft x 4ft). The company claims that their frameless design minimizes maintenance, and prevents moisture ingress.

The company claims superior performance of CdTe solar cells even in low-light and high-temperature conditions .
The company’s clients in the past include Solen, PV Powered, Wirsol, Chevron, Melink, GP Joule, juwi, SolarOne. The company has in the past taken up projects in USA, Italy and Germany.

                                                         Exhibit: Low- Light Performance

                                                        Exhibit: High-temperature performance 


                                              Source: Abound Solar website

Strategic Partners/Alliances:
In 2011 , the company had entered into a purchase agreement with ABEL, a German turnkey renewable project developer. The company has entered into many agreements with different Photovoltaic developers, namely:

  1. Juwi group
  2. EME Energy Management Eberlein GmbH
  3. GP Joule
  4. Melink
  5. Solarsis
  6. Solen Energy
  7. North Cost Electric

The company has also formed an alliance called the Abound Alliance, for better compatibility with the balance of system products such as for racking, inverters and cabling.

  1. Racking: Schletter Inc., Sunlink
  2. Inverters: KACO, PV Powered, REFU Solar Electronics
  3. Cabling: Shoals Technologies group.

Funding

The company received USD 260 million from private investors. The company has also received a $400 million loan guarantee from US Department of Energy. The company also has a partnership with Export-Import Bank, USA and the Key Equipment Bank, USA for exports and equipment financing respectively.

Top Management :

  1. CEO and President– Tom Tiller
  2. CFO – Stephen Abely

Recent News:

  1. July 18, 2011 : Ex-Im Bank announced USD 9.2 Million loan to support Abound Solar Inc. exports to Punj Lloyd Power Project in India
  2. July 15, 2011 : Abound Solar had agreed to a long-term purchase agreement with ABEL ReTec, a German developer of turnkey renewable energy projects.
  3. April 28, 2011 : Abound Solar Partners with DW Europe in Solar Distributorship Contract

Address:
2695 Rocky Mountains
Avenue Suite 300
Loveland, CO 80538, USA
Ph: 970-619-5340
Fax: 970-619-5341
Website: www.abound.com