Stion Raises $15M

Stion, a company that’s developing high-efficiency thin-film solar modules, has raised a $15 million Series B financing led by Lightspeed Venture Partners).

General Catalyst Partners also participated, as did all three existing investors – Khosla Ventures, Braemar Energy Ventures and Moser Baer Photovoltaic. 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 effortsm, taking it to the early commercialization phase.

Stion was founded in 2006. Its technology is based on the work of Dr. Howard Lee, a leading researcher in nanotechnology and semiconductor materials.