Wednesday, December 15, 2010

Abound Solar Gets $110M, DOE Loan Guarantee

Loveland, Colorado-based Abound Solar, which manufactures cadmium telluride, thin-film photovoltaic solar modules, has raised $110M in an equity funding, and also closed on a $400M loan guarantee from the U.S. Department of Energy. According to Abound, the equity funding came from Invus Group, Bohemian Companies, DCM, and Technology Partners, along with BP Alernative Energy Ventures and West Hill Companies. Abound said the fundings will allow it to expand manufacturing capacity in Colorado and Indiana. The firm said it is already constructing a second manufacturing line in Longmont. Abound is headed by Tom Tiller, and is based on research from Colorado State University and the National Renewable Energy Laboratory. Abound was previously known as AVA Solar. More information »