Press Releases

Siva Power Closes on $25M to Continue Developing Low‑Cost Solar Module Technology for the Terawatt Era
PR Newswire, May 23, 2017

Siva Power, a manufacturer of next generation thin-film solar technology, today announces the closing of a $25 million dollar round focused on building out its pilot line and developing its solar module business. Jim Simons and Mark Heising led the investment with help from Jonathan Sheets.

Siva Power continues to make steady progress developing its high performance, low-cost module technology at its Santa Clara, CA development facility. Customer interest is strong from those that appreciate the challenge of deploying terawatts of solar in the coming decades.

Bruce Sohn, Former President of First Solar, Joins Siva Power as CEO
PR Newswire, March 9, 2017

Siva Power, a manufacturer of next generation thin-film solar technology, has hired renowned solar executive Bruce Sohn to lead the company as CEO. Sohn previously was the Vice-Chairman of the Board of Directors for Siva Power and he replaces Brad Mattson in the leadership role, while Mattson now serves as Executive Chairman of the Board.

"I literally cannot think of anyone I would want to lead Siva Power more than Bruce," said Mattson. "He grew First Solar, what was then a small solar startup, into the multinational company it is today. I know that Siva will be the next thin-film success and I know that Bruce will lead us to that success."

Siva Power Acquires First Solar, Bloo Process Equipment and Expands Development Center in Santa Clara
PR Newswire, February 1, 2017

Siva Power, a manufacturer of next generation thin-film solar technology, has acquired process equipment from thin-film solar manufacturers First Solar and Bloo Solar. Additionally, the company's development facility has been expanded to 35,500 square feet. Siva also recently closed a convertible round with existing investors to extend operating funds.

 

"I'm very pleased the company was able to acquire such high-quality tools; it will greatly enable Siva to progress our work," said company Vice President of Process and Equipment Development Robert G. Wendt.

Bruce Sohn Joins Siva Power as Vice-Chairman of the Board
September 22, 2016

Siva Power, a manufacturer of next generation thin-film solar technology, has acquired process equipment from thin-film solar manufacturers First Solar and Bloo Solar. Additionally, the company's development facility has been expanded to 35,500 square feet. Siva also recently closed a convertible round with existing investors to extend operating funds.

 

"I'm very pleased the company was able to acquire such high-quality tools; it will greatly enable Siva to progress our work," said company Vice President of Process and Equipment Development Robert G. Wendt.

Siva Power Raises $5 Million in Series D Financing, Will build pilot line at new Santa Clara headquarters
May 03, 2016

Siva Power, a leader in advanced solar energy, today announced it has secured $5 million in Series D financing and will use these funds to build a solar-module manufacturing pilot-line at its new headquarters in Santa Clara, CA. The pilot line will be used to develop Siva Power’s copper indium gallium selenide (CIGS) solar modules, which the company claims will be the lowest cost solar panels in the world. Participating investors in the Series D round were DBL Partners, Acero, Symmetry Group Ltd., Red House Capital LLC, Banner LLC, and Siva Power CEO Brad Mattson.

Chris J. McDonald Joins Siva Power as Chief Operations Officer
PR Newswire, May 12, 2015

 Siva Power, pioneering the next generation of thin-film solar technology, has hired Chris J. McDonald as its Chief Operations Officer (COO). McDonald brings a high level of operations experience and proven solar-technology expertise, and is an important addition for executing Siva Power's plan to build the first solar factory of the "gigawatt era" to manufacture high-efficiency solar panels at unprecedented scale and the lowest production cost.

McDonald previously held executive roles at Applied Materials and Intel. He was Vice President of Factory Projects for Applied Materials' Solar Business Group, responsible for delivering turn-key factory start-up projects to Applied Materials' customers, successfully starting and completing 14 production lines in six countries. 

Dr. Billy J. Stanbery Becomes President of Siva Power, Siva Power adds to the solar industry "Dream Team"
PR Newswire, March 27, 2015

Siva Power, pioneering the next generation of thin film solar technology, is pleased to announce that Dr. Billy J. "BJ" Stanbery has joined the team as President of Siva Power effective March 23, 2015. Dr. Stanbery has had an illustrious career spanning more than 30 years in the solar industry and is an expert in the field of photovoltaics (PV). Dr. Stanbery is especially well-respected by the solar industry as a pivotal early-developer of copper indium gallium diselenide (CIGS) technology, the same technology being commercialized by Siva Power.

Siva Power Secures Series D Funding & Expert Advisor; Moves Forward with Plans to Build World's Most Advanced, Cost-competitive Solar Manufacturing Plant
PR Newswire, January 29, 2015

Siva Power, a leader in advanced solar energy, today announced it has closed a Series D financing round, which along with other recent efforts has raised a total of $10 million in new capital for the California-based firm. The funding enables Siva to begin building a key production component and narrow down its site selection for where to establish the world's most cost-competitive manufacturing plant for highly efficient, low-cost solar panels. Siva is drawing on a brain trust of industry experts for its thin-film solar technology and announced that Bulent Basol, a globally recognized solar expert and pioneer, has joined its prestigious Technical Advisory Board.

Siva Power Wins Technology Honor, Recognized as Leader in Super Low-Cost Solar Manufacturing by Industry Experts
PR Newswire, January 22, 2015

Siva Power, a leader in advanced solar energy, has received an award from the U.S. Department of Energy SunShot Initiative recognizing the firm's innovative technology and processes that will enable it to manufacture solar panels in the United States at the world's lowest cost.

The SunShot Initiative is a national effort to make solar energy cost-competitive with traditional energy sources by the end of the decade. Ten firms nationwide recently received cooperative awards under the Solar Manufacturing Technology funding program, which aims to bridge the gap from invention to commercialization, bringing innovative technology to scale. Siva was the only thin-film panel awardee.

THE SOLAR PHOENIX: New Book Outlines How America Can Manufacture Solar Success
PR Newswire, August 05, 2014

The SOLAR PHOENIX: How America Can Rise from the Ashes of Solyndra to World Leadership in Solar 2.0, a new book by Silicon Valley technology pioneer and solar entrepreneur Brad Mattson, offers a detailed roadmap of how solar will lead us to the new energy economy and outlines how the United States can beat manufacturing juggernauts like China by using advanced solar manufacturing technology developed here in the United States.

Siva Power Announces Path to World's Lowest Cost Solar Panels
PR Newswire, July 02, 2014

Siva Power, a leader in advanced solar energy, today announced a new technology roadmap that projects the cost of its thin film solar modules dropping to a world-best $0.28/watt. Because of its advanced manufacturing approach, Siva Power's projected costs are geography agnostic, and can be achieved in China, the United States or any other location. The company expects to be in production within four years, with a 300 MW capacity facility.

Siva Power Secures New Funding, Hires China Market Executive
PR Newswire, June 18, 2014

Siva Power,  a leader in advanced solar energy, today announced it has received an initial investment in a $15 million round to help scale the manufacturing of its industry-leading thin film solar technology, which can surpass the U.S. Dept. of Energy's SunShot Initiative target of solar module cost of $0.50/watt. The company has also hired solar industry veteran Leroy Luo as president of Siva Power China to lead operations in that market.

Siva Power Approaches 19% Efficiency in Record Time; Adds to Solar Company's Powerful Technical Advisory Board
PR Newswire, February 05, 2014

Siva Power, a leader in advanced solar energy, today announced that it has achieved near record efficiency with its CIGS panel technology – approaching 19 percent –  in a record time of just 10 months. In addition, the company welcomes leading solar energy expert, Charlie Gay, Ph.D., to its Technical Advisory Board.  Dr. Gay joins Rommel Noufi, Ph.D., John Benner, and Markus Beck, Ph.D. to support Siva Power as it creates a profitable path to sub-$0.40 per watt solar power and unprecedented production scale.

Solexant Rebrands as Siva Power, Moves to CIGS Technology and Manufacturing Platform with Gigawatt Production Capacity
PR Newswire, November 20, 2013

Solexant Corp., a leader in advanced solar energy, today announced a new corporate identity as Siva Power. The new identity is the culmination of a two-year transition to a platform that creates a profitable path to sub-$0.40 per watt solar power, along with unprecedented production scale. The company also announced a new website (www.sivapower.com), and a powerful technical advisory board.