Solyndra LLC

<< Note: on 31st Aug 2011, Solyndra announced that global economic and solar industry market conditions have forced the Company to suspend its manufacturing operations. The follwing profile is prepared before this date>>

Solyndra designs and manufactures solar photovoltaic (PV) systems which comprise of CIGS (Copper indium gallium selenide) cylindrical thin-film modules and mounts, for the commercial rooftop market.

The company was founded in 2005 by Dr. Christian Gronet and it began production in 2007. 

This is a privately held company. The company claims its revenue to be approximately USD 140 million in 2010. The company manufactures its products entirely in the US. In 2011, the company ramped up its production and targeted a production capacity of 300 MW.

The company has approximately 1050 employees around the world and has offices in the United States, Switzerland, Germany, Italy and France. The company headquarters are located in Sunnyvale, California, US.       

               Exhibit: Year wise revenue (USD million) and Units (MW) generated by the company
                                      Year Revenue          (USD in million)              Units (MW)
                                          2010                           140                               100
                                          2009                          100.5                             30.5
                                          2008                             6.0                               1.8

Business line, products and service offerings:

Solyndra produces cylindrical thin-film modules at its U.S. manufacturing facility. Solyndra’s panels are placed horizontally on the rooftop and don’t require mounting or ballast. The company claims that their roof panels are able to capture solar power right across 360 degrees.
The products offered by the company include:

  1. Solyndra Greenhouse: for agricultural generating power while optimizing plant growth. 
  2. Solyndra 200 series and 100 series: Photo Voltaic system for rooftops.
  3. Solyndra cylindrical modules: The company claims that by the use of cylindrical thin-film panels a 360 degree capture of solar power is made possible. 

                                    Exhibit: Benefit due to the use of cylindrical thin-film solar panels.

Solyndra has a wide variety of customers from commercial building owners to government agencies, utilities and developers, roofing contractors and integrators. Solyndra has over 1000 systems installed around the world. Some of the brands which have installed Solyndra’s PV system in their manufacturing plants include Coca-Cola, Anheuser Busch, Frito-Lay and Pfizer. Solyndra has also worked with utility companies such as Southern California Edison and PSE & G.

Solyndra’s major solar integrator customers for the fiscal year that ended in January 2009 included Geckologic GmbH, and Phoenix Solar AG, and for the fiscal year that ended in January 2010 included USE Umwelt Sonne Energie GmbH, Alwitra GmbH, Carlisle Syntec Inc., and Sunconnex B.V.

Strategic Partners/Alliances

The company has entered many strategic partnerships with solar related companies such as Satcon , Inovateus , Photon Energy , etc. for various projects in US and Europe.

Venture Capital/Investors

The compay is backed by many institutional investors and governmental loans. The provide investors include :

  1. Redpoint Ventures
  2. RockPort Capital
  3. Argonaut
  4. CMEA Capital
  5. U.S. Venture Partners
  6. The Walton family fund
  7. Madrone Capital
  8. MASDAR
  9. Virgin Green Fund
  10. Artis Capital Management

Solyndra was offered a USD 535 million loan guarantee by the US Department of Energy under Title XVII of the Energy Policy Act of 2005.

Top Management :

  1. CEO and President – Brian Harrison
  2. Chairman – Dr. Christian Gronet
  3. CFO – W.G. Bill Stover, Jr.

Recent News:

  1. June 7, 2011 : Solyndra announced the launch of 200 serie solar panel metal roof mounts for the fast growing commercial metal roof market.
  2. April 15, 2011 : Interservice Uzunovi signed an agreement with Solyndra for the installation of 1 MW project in Bulgaria.
  3. November, 24, 2010 : Solyndra announced strategic collaboration with Sika Services AG, a manufacturer of roofing materials in Baar, Switzerland.

Address :
USA
Solyndra LLC
47488 Kato Road
Fremont, CA 94538

Europe
Solyndra International AG
Lindenstr. 16
6340 Baar Switzerland
Website: www.solyndra.com