Konarka Technologies, a maker of organic solar thin films, said Friday it’s going bankrupt, an announcement that may not be so surprising to many who have watched and waited for the venture-backed company to try to build a viable business.
SunPower, whose fight for survival forced it to find a new owner and embark on a significant cost-reduction plan, said on Monday that it will stop producing cells at one of its factories to save money.
Investors and entrepreneurs don’t always connect via the standard VC pitch. According to Phil Giudice, the CEO of a battery startup called Liquid Metal Battery, his company found their most high profile investor, Bill Gates, through a more unusual way: the classroom.
SunPower said on Thursday in its earnings call that it will be going on the offensive in 2012, aggressively selling solar projects and residential leases, and developing more efficient solar panels.
Declining solar incentives in key markets such as Italy and Germany have disrupted sales for many solar companies, and SunPower in particular has been hit quite hard. On Tuesday the company posted second-quarter losses and promised to speed up plans to reduce costs.
Brace yourself for reports of lackluster sales and profits for solar companies for the second quarter. SunPower did just that Monday by warning that it expects to post a lower gross margin and a loss for the period.
SunPower, a stalwart U.S. solar manufacturer in Silicon Valley, plans to sell 60 percent of the company to French oil and gas giant Total Group, the companies announced Thursday. SunPower will get much need financial backing through the deal.
While biofuel maker Amyris unveiled that it had scored some major partnerships and investment earlier this week, the good news doesn’t distract from the fact that Amyris is generating the majority of its revenues from selling third-party ethanol.
Amyris disclosed in a filing this week that it has hooked up with French oil giant Total, which bought a 17 percent stake in the biofuel developer and could help deliver a lot more confidence with investors for its upcoming IPO.
Thin-film solar startup Konarka said this morning that the massive French oil and gas company Total (s tot) has become its largest…