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.”
About Stion
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
- fyang@stion.com
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 50 companies in the sector and have significant technical, operational and financial experience in energy and energy-related industries. Through offices in New York and Boston, the firm targets a wide range of energy technologies that impact stationary power, transportation and portable energy applications. Additional information is available at www.braemarenergy.com.
For more information
- CJP Communications
- Vu Chung
- (212) 279-3115 x205
- vchung@cjpcom.com
About Lightspeed
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.