Miasolé to Lay Off Staff, Restructure?


We learned about the future plans of a couple of thin film solar startups this week — Nanosolar and HelioVolt. Wondering what’s up with six-year-old 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 waiting to hear back.

Santa Clara, Calif.-based Miasolé has experienced delays getting its thin-film solar technology — which is based on copper, indium, gallium and selenium (CIGS) — to market. This CNET article plots the delays, noting that in September 2006, the company said it would reach mass production at the end of the 2007. And back in 2004, Miasolé was predicting mass production in 2005. Groundhog Day? Now the company is saying by the end of 2008.

Earlier this year, Miasolé raised a whopping $50 million and hired semiconductor veteran Joseph Laia to replace company founder Dave Pearce as CEO, the idea being that new leadership and new funds would help get the technology to market. It appears the company has now turned to cutting costs.

Nanosolar this week started shipping its first thin-film solar panels and HelioVolt unveiled plans for its first manufacturing facility. We’ll see what Miasolé, one of the more well-known thin-film startups out there, has to tell us about their plans.

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