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Summary:

The rumors that the thin film solar startup Miasolé had been out fund raising are confirmed this morning. The Santa Clara, Calif.-based company has raised another $50 million in series D funding that included six new but unnamed investors, according to VentureWire, (via PE Hub). Miasole […]

The rumors that the thin film solar startup Miasolé had been out fund raising are confirmed this morning. The Santa Clara, Calif.-based company has raised another $50 million in series D funding that included six new but unnamed investors, according to VentureWire, (via PE Hub).

Miasole makes thin film solar out of copper, indium, gallium and selenium (CIGS), and these startups have been raising significant funds as of late. Miasolé competes with the likes of Nanosolar (with $100 million in funding so far, plus $20 million from the DOE), Heliovolt ($85 million in funding), and Solyndra (over $79 million). Now Miasole’s funding adds up to over $100 million.

Why all the cash? Getting this technology into large scale manufacturing is proving to be difficult. Delays have plagued some CIGS makers, and they’re all in a race to be the first to market. Despite the investments, these companies have struggled to move into production. Earlier this month, semiconductor veteran Joseph Laia replaced Miasolé founder, Dave Pearce, as CEO.

Thin film technology promises to be cheaper than traditional solar technology because it uses little or no silicon, and in some cases, can be printed on flexible materials. But there’s a trade-off, as those developing the technology are still struggling to boost its efficiency levels.

  1. A Chat with Konarka Co-Founder Howard Berke « Earth2Tech Wednesday, September 26, 2007

    [...] thin film and other new solar technologies are struggling to move into the production phase, and companies like Miasolé and Nanosolar continue to raise funding to take that next step. Konarka was founded in 2001, and [...]

  2. Solar Startup Konarka Raises Yet Another $45M « Earth2Tech Monday, October 1, 2007

    [...] solar technologies, Konarka is raising funds to get its product into commercialization. Recently Miasolé raised $50 million, Heliovolt added $77 million, and Nanosolar found more funding with the DOE. Unlike many of these [...]

  3. Earth2Tech » Blog Archive » Solar Startup Konarka Raises $45M Monday, October 1, 2007

    [...] solar technologies, Konarka is raising funds to get its product into commercialization. Recently Miasolé raised $50 million, Heliovolt added $77 million, and Nanosolar found more funding with the DOE. Unlike many of these [...]

  4. Thin-Film Solar Funds: Innovalight Raises $28M « Earth2Tech Thursday, October 11, 2007

    [...] requiring more and more money to get their products to market. Over the past few months, Konarka, Miasolé, HelioVolt, and Nanosolar have all raised funding in an effort to reach the large-scale [...]

  5. HelioVolt Raises More Cash, Total Over $100M « Earth2Tech Monday, October 22, 2007

    [...] which is made from copper indium gallium selendide (CIGS). Competitors like Nanosolar and Miasolé, which are using the same materials, have also raised large funds and are struggling to start [...]

  6. Is the Learning Curve too Steep for Cleantech? « Earth2Tech Tuesday, December 4, 2007

    [...] WSJ article notes some early failures like six-year-old, Kleiner-backed Miasole, which raised more money in just September and is still private. And so far ethanol investments are a pain point for the venture world, with [...]

  7. FAQ: Thin-Film Solar « Earth2Tech Wednesday, December 19, 2007

    [...] — The company, which has over $100 million in funding and named a new CEO back in September, is having difficulty getting their CIGS cells scaled [...]

  8. Miasolé to Lay Off Staff, Restructure? « Earth2Tech Thursday, December 20, 2007

    [...] about Miasolé? We just read a report from Venture Wire that says the thin-film solar startup, which has raised over $100 million in funding, is laying off 40 employees and restructuring. We contacted the company to learn more and are [...]

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