A Freemont, California-based thin-film solar startup, which reportedly has received $600 million in financing, came out of the shadows today.
Solyndra, Inc. arrived on the scene with the announcement of a new solar photovoltaic (PV) system for the commercial rooftop market and a backlog of $1.2 billion in multi-year contracts with customers in Europe and the United States.
Since its founding in 2005, Solyndra has been developing technology and
ramping manufacturing capacity to produce its proprietary CIGS-based
thin film PV system.
Solyndra is currently shipping its systems, comprised of panels and mounting hardware, which it says are designed to generate significantly more solar electricity on an annual basis from typical low-slope commercial rooftops with lower installation costs than conventional flat panel PV technologies.
A New Shape in Solar
Solyndra’s panels employ cylindrical modules which capture sunlight across a 360-degree photovoltaic surface capable of converting direct, diffuse and reflected sunlight into electricity, according to a company release.
This "self-tracking" design allows Solyndra’s PV systems to capture significantly more sunlight than traditional flat-surfaced solar panels, the company says.
Solyndra says its panels perform optimally when the panels are mounted horizontally and packed closely together, covering significantly more of the available roof area and producing more electricity per rooftop on an annual basis than a conventional panel installation.
Additionally, Solyndra rooftop panels do not have to be anchored, and the low weight of the Solyndra system enables the installation of PV on a broader range of rooftops, the company says.
"By eliminating the need for roof-penetrating mounts and wind ballasts, PV arrays with Solyndra panels can be installed with one-third the labor, in one-third of the time, at one-half the cost," said Manfred Baechler, chief technical officer at Phoenix Solar AG, one of the largest solar power integrators in Europe and a Solyndra customer. "For commercial rooftops, PV module installation time can now be measured in days, not weeks. For flat commercial rooftops this is game-changing technology."
A Green Wombat report on Fortune.com goes into the background of the company, which burst onto the scene today. The report states that in addition to large contracts, the company has a factory operating 24/7 and $600 million in financing.
About Solyndra
Solyndra designs and manufactures photovoltaic systems, comprised of panels and mounting hardware, for the commercial rooftop market. Solyndra employs high volume manufacturing based on proven technologies and processes to meet the needs of the global solar market. Using proprietary cylindrical modules and thin-film technology, Solyndra systems are designed to provide the lowest installed cost per system and the highest solar electrical energy output for typical low slope commercial rooftops. Headquartered in Fremont, California, Solyndra operates a state-of-the-art 300,000-square foot, fully-automated manufacturing complex.
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