ADVFN - Advanced Financial Network.
HOME» NASDAQ » F » FSLR Stock Price » FSLR Stock News

First Solar Share News

 First Solar (mm) Stock Price
FSLR Stock Price
 First Solar (mm) Stock Chart
FSLR Stock Chart
 First Solar (mm) Stock News
FSLR Stock News
 First Solar (mm) Company Information
FSLR Company Information
 First Solar (mm) Stock Trades
FSLR Stock Trades

US Solar-Panel Maker MiaSole Raises $55 Million In Venture Capital

By Cassandra Sweet Of DOW JONES NEWSWIRES Solar-panel maker MiaSole said Wednesday it has raised $55 million in venture capital and plans to continue making panels as it seeks a buyer or one or more partners to expand production and sales. MiaSole has a 150-megawatt factory at its Santa Clara, Calif., headquarters where it makes thin-film solar panels using copper, indium, gallium and selenium. The next-generation technology is different from conventional solar panels, which use silicon. The latest funding round included existing MiaSole investors VantagePoint Capital Partners, Kleiner Perkins Caufield & Byers, Bessemer Venture Partners, Firelake Capital Management and Passport Capital. While global demand for solar power has continued to grow, an oversupply of solar-panel manufacturing capacity in China and other countries has forced prices down, cutting solar-panel makers' profits and stock prices. It would appear to be a difficult time for a small manufacturer to enter the market. MiaSole Chief Executive John Carrington said he is confident his company and its thin-film technology will prevail because its panels cost much less to make than rivals and several larger companies have expressed interest in the California company. "We're in discussions with a variety of strategic partners," Carrington said in an interview. He added that "it's a very global list" of large companies, some of which are already involved in solar power and others that aren't but want to get into solar. As the market for initial public offerings has become difficult for solar and other renewable energy companies, MiaSole is on the lookout for a large company that would buy all or some of the company. Solar-panel maker SunPower Corp. (SPWR), of San Jose, Calif., got a major boost after French oil major Total S.A. (FP.FR, TOT) bought two-thirds of the company last year. "That's a very good outcome for SunPower and certainly one that we would consider" for MiaSole, Carrington said. MiaSole would need $100 million to $300 million or more to scale up production and expand globally, Carrington said. The company is looking to expand in the U.S., India, Europe, the Middle East and Africa. Aside from a potential sale, MiaSole is also considering one or more commercial partnerships, in which the company would license its technology to a larger manufacturer or create a joint venture with a larger company to make solar panels, Carrington said. The company currently has customers in the U.S., Germany, India and Saudi Arabia. Carrington said he aims to nail down one or more strategic partners by the end of the year. As MiaSole looks to scale up, some of its rivals are scaling back. U.S. solar giant First Solar Inc. (FSLR) said last week it would cut production in line with weaker-than-expected demand. Privately held solar-panel maker Abound Solar announced similar plans last week, saying it would halt production for several months while it upgrades its manufacturing equipment. MiaSole has a fast, inexpensive manufacturing process that has been "proven out" in the semiconductor industry, Carrington said. MiaSole President Bob Baker spent 32 years at Intel Corp. (INTC), of Santa Clara, where he managed global manufacturing, supply chain, corporate services and other businesses. MiaSole hired Intel last year to help it scale up its manufacturing and apply the chip maker's manufacturing expertise to streamline its solar-panel process and boost its yield. -By Cassandra Sweet, Dow Jones Newswires; 415-439-6468;

Stock News for First Solar (FSLR)
02/16/201709:00:00Photosol Selects First Solar Technology to Power Utility-Scale...
02/14/201709:12:00First Solar, Inc. to Announce Fourth Quarter and Full Year 2016...
02/13/201717:35:00First Solar Selected for 63MW Kidston Solar Project in Australia
02/13/201717:10:02Statement of Ownership (sc 13g)
02/10/201716:42:05Amended Statement of Ownership (sc 13g/a)
02/09/201710:21:58Schedule 13g
02/08/201717:00:00First Solar Awarded 140MW Module Supply Contract for Australia’s L...
02/08/201712:26:40Statement of Ownership (sc 13g)
02/07/201723:00:00Prime Road Group and First Solar Complete 18MW of Solar Farms...
01/27/201706:13:34Current Report Filing (8-k)
01/04/201707:00:00Executives of CLEAResult, First Solar, Lockheed Martin Energy...
01/03/201717:49:25Statement of Changes in Beneficial Ownership (4)
01/03/201717:47:13Statement of Changes in Beneficial Ownership (4)
01/03/201717:39:46Statement of Changes in Beneficial Ownership (4)
01/03/201717:17:58Statement of Changes in Beneficial Ownership (4)
01/03/201717:14:59Statement of Changes in Beneficial Ownership (4)
01/03/201717:14:59Statement of Changes in Beneficial Ownership (4)
01/03/201717:05:14Statement of Changes in Beneficial Ownership (4)
01/03/201717:05:13Statement of Changes in Beneficial Ownership (4)
01/03/201716:31:50Statement of Changes in Beneficial Ownership (4)

First Solar and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations