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Summary:

Whoa! The next big cleantech IPO following A123System’s recent public offering, has just been announced. Thin film solar company Solyndra has filed a registration statement for an IPO that could raise up to $300 million. According to the SEC filing, the company generated revenues of $58.8 million […]

Whoa! The next big cleantech IPO following A123System’s recent public offering, has just been announced. Thin film solar company Solyndra has filed a registration statement for an IPO that could raise up to $300 million. According to the SEC filing, the company generated revenues of $58.8 million for the nine months ended October 3, 2009, rising from revenues of $6 million for the fiscal year ended January 3, 2009 and has had expanding losses for every fiscal year.

Solyndra, a Fremont, Calif.-based manufacturer of thin-film solar tubes, stayed quiet for years but came out of stealth in 2008 with an announcement that it had raised a massive $600 million from investors. The company then raised more and became one of the most capitalized startups to date with close to $800 million in financing.

The company, which won the first DOE loan guarantee and is building a factory in Fremont, Calif., has been at the top of the list of greentech companies that could IPO in 2010.

According to the SEC filing Solyndra plans to use the funds raised in the IPO to pay for a portion of the costs of the build out of the second phase of its second factory. The total costs of that buildout Solyndra estimates are $642 million. Solyndra also said that on September 11, 2009 it applied for a second loan guarantee from the DOE for $469 million, to help fund the buildout. Solyndra says: “If we are unable to obtain the DOE guaranteed loan in whole or in part, we intend to fund any financing shortfall with some combination of the proceeds of this offering, cash flows from operations, debt financing and additional equity financing.”

Despite early revenues Solyndra’s losses have been expanding since its first reported fiscal year in 2006. The company lost $232.07 million for the fiscal year ending January 2009, $114.13 million for the fiscal year ending December 29, 2007, and $27.17 million for the fiscal year December 30, 2006.

  1. [...] reading here: Solar Tube Maker Solyndra Files for Potential $300M IPO Categories: all about solar panels Tags: aone, ipo, recent-public [...]

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  2. [...] the case with Solyndra, a thin film solar tube maker that kept quiet for several years and which registered for an IPO just this past Friday (SEC filing [...]

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  3. [...] IPO predictions were based on a company showing 10x growth in revenue between 2008 and 2009. Solyndra has generated revenues of $58.8 million for the nine months ended October 3, 2009, rising from revenues of $6 million for [...]

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  4. [...] Solar Tube Maker Solyndra Files for Potential $300M IPO [...]

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  5. [...] Gowalla, which is trailing behind Foursquare in location-based services, and Heliovolt, which is trailing Valley startup Solyndra in the race to develop better solar technology. But Bart Bohn, a director at the Austin Technology [...]

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  6. [...] with a promising technology. In particular Solyndra won the first DOE loan guarantee and has been planning an IPO. Laia says that MiaSole can make CIGS for far cheaper than Solyndra and that its DOE loan guarantee [...]

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  7. [...] plans to raise more funding, including via an IPO and actually has applied for another DOE loan guarantee to expand its factories even more. But at [...]

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  8. [...] Corporation, which was eventually acquired by Applied Materials. In Solyndra’s S-1 (the company plans to go public) the solar startup said: “We have drawn on our management team’s extensive expertise in the [...]

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  9. [...] Semiconductor Corp., which was eventually acquired by Applied Materials. In Solyndra’s S-1 (the company plans to go public) the solar startup said: “We have drawn on our management team’s extensive expertise in the [...]

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