Solyndra Raises Nearly $220 Million

Solar company Solyndra has raised $219.2 million in a Series E financing from 23 investors, according to a regulatory filing, making it the second largest U.S. cleantech financing in 2008.

The Fremont, Calif.-based company makes copper indium gallium selenide (CIGS) solar power installations. Its latest financing round is smaller than the $300 million raised by CIGS manufacturer Nanosolar, but larger than the $200 million financings reported for Miasolé and SoloPower earlier this year.

The financing includes $96.6 million in “working capital” and $122.2 million for the “conversion of convertible promissory notes into Series E preferred stock,” according to the filing. Financiers in the deal included Argonaut Ventures, U.S. Venture Partners, CMEA Ventures and Redpoint Ventures, according to the filing.

For more details on the financing, check out

It’s still not too late to sign up for the VCJ Breakfast Series panel discussion: “Financing the Cleantech Buildout.” We’re going to have great panelists discussing how exactly to raise a monster round of financing.  Come out to Quadrus on January 13 to see John E. Buehler, Jr., of Energy Investors Fund, Ben Kortlang of Kleiner Perkins Caufield & Byers and Rohan Singh of HSH Nordbank.