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Updated: Thin-film solar developer HelioVolt won’t be shipping its commercial thin film solar material until at least early 2010, a HelioVolt spokesperson told us today, and at the same time is doing the management shuffle. Founder BJ Stanbery will no longer be in the CEO spot […]

Updated: Thin-film solar developer HelioVolt won’t be shipping its commercial thin film solar material until at least early 2010, a HelioVolt spokesperson told us today, and at the same time is doing the management shuffle. Founder BJ Stanbery will no longer be in the CEO spot — he’ll serve as chief strategy officer and chairman of the board. (Update: We clarified this story to explain that the company won’t ship commercial certified products until 2010, but will be sending customer samples and certification products in the second half of 2009).

The Austin, Texas-based company previously expected the 122,400-square-foot plant to start operations in 2008, with sales of HelioVolt’s solar products to kick off early this year. In terms of the management shift, HelioVolt said the move comes as it enters its “next phase of growth,” and that it will start an international search for a permanent replacement. Director Ron Bernal, a partner at HelioVolt investor Sequel Venture Partners, was appointed interim chief executive. The company also hired Sanjeev Kumar, the former chief financial officer of Energy Conversion Devices to fill the open post of CFO at HelioVolt.

While it’s not uncommon for startups to bring in a new CEO for the commercial stage, it comes at a time when a number of solar startups, including HelioVolt, are taking steps to cut costs and even rethink their business plans. Earlier this month, HelioVolt laid off about 15 workers, and Hayward, Calif.’s OptiSolar dropped 300 jobs — almost half of its workers.

HelioVolt raised $101 million in a Series B round in 2007, with investors including Sequel Venture Partners, Noventi Ventures and Passport Capital. We’ll see if that’s enough money to ride out this storm and meet these new shipping goals.

  1. Sweet Solar Home » Blog Archive » Rise & Shine: February 5, 2009 Thursday, February 5, 2009

    [...] HelioVolt Delays Shipping Until 2010, While CEO Steps Down Thin-film solar developer HelioVolt won’t be shipping its thin film solar material until at least early 2010, a HelioVolt spokesperson told us today, and at the same time is doing the management shuffle. [...]

  2. Cleantech people, money and deals: 2 – 6 Feb. 2009 | Money and Finance Friday, February 6, 2009

    [...] a Texas-based producer of solar thin-film, announced this week that founder and CEO B.J. Stanbery will move to the position of chief strategy officer and board chairman, Earth2Tech [...]

  3. Konarka Raises $5M for Thin-Film Solar « Earth2Tech Wednesday, February 18, 2009

    [...] month, thin-film competitor HelioVolt pushed back its own plans for volume production, saying it won’t be shipping its commercial solar material until at least early 2010. And Konarka and the other thin-film [...]

  4. HelioVolt Snags First Solar Exec for CEO, Hopes to Be Commercial Someday Wednesday, June 17, 2009

    [...] am in Energy Thin film solar maker HelioVolt could be a contender for the chronoptimist crown. Earlier this year the Austin, Texas-based company pushed back shipping its commercial thin film solar material until [...]

  5. 7 Trends That Will Dominate the Intersolar Show Sunday, July 12, 2009

    [...] Nanosolar says it will have some news out in September (we’re hoping its production metrics), HelioVolt has yet again delayed commercial scale production, and SoloPower recently lost its CEO and won’t start high volume production until next year. [...]

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