Suniva Gets $141 Million Loan Guarantee From Energy Department

Posted Apr 2, 2010

Silicon solar cell company Suniva has just received a $141 million loan guarantee from the U.S. Department of Energy.  Suniva joins the likes of other solar companies such as Solyndra and Brightsource Energy, who received $535 million and $1.37 billion respectively.  Suniva will use the loan to build a solar cell manufacturing facility in Michigan according to VentureBeat.  The Michigan plant could employ about 500 full-time positions and 2,000 temporary jobs.  Suniva’s goal is to develop solar cells that require less pricey silicon.  Suniva raised a total of $375 million in venture capital from Warburg Pincus, HIG Ventures, New Enterprise Associates, Advanced Equities, and Apex Ventures.. [VentureBeat]