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Solyndra, Inc.
Business Summary
Founded by Christian M. Gronet in 2005, Solyndra, Inc. (previously Gronet Technologies) is a manufacturer of photovoltaic systems for the commercial rooftop market and distributes its products mainly in North America and Europe. Its solar sysetms use a tube-shaped design less expensive than the traditional flat-moduled panels, which Solyndra hopes will encourage customers to convert underutilized rooftop space into clean solar energy. With a variety of customers ranging from commercial building owners to government agencies, utilities and developers, Solyndra has sold and installed over 500 systems around the world since its inception. In fall 2011, Solyndra filed for Chapter 11 bankruptcy, laying off over 1100 employees (see PrivCo Bankruptcy & Restructuring Table: Solyndra Inc. for additional details). In September 2011, the F.B.I conducted a raid of Solyndra's headquarters, as part of an Energy Department investigation connected with the $528 million loan guarantees provided by the federal government to Solyndra.
Recent News, Updates, and Analysis
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SOLARCITY To IPO On NASDAQ This Week, Aims To Raise $141 Million In Rocky Market For Clean-Tech IPOs, But ELON MUSK's Backing Raises Hopes For Sunshine; PrivCo Analyzes SOLARCITY's Financials And Its IPO's Strengths & Risks
Dec. 2012 December 10, 2010 7:45 pm EST - SolarCity is looking to price on NASDAQ this week. With a revised goal to raise $141 Million, down from $201 Million when it first filed - SolarCity is testing an IPO market that has generally given solar and clean-tech companies the cold shoulder. The only other clean-tech company to IPO this year is Enphase (March 2012). … Read More »
Overview & Corporate Organization
Basic Information
| Company Tags: | PE Backed VC Backed |
| Year Founded: | 2005 |
| Formerly Named: | Gronet Technologies, Inc. |
| Fiscal Year End: | 12/31 |
| 1YR Revenue Growth Rate: | View % |
| 3YR Revenue Growth Rate (CAGR): | View % |
| 1YR Employee Growth Rate: | View % |
| 3YR Employee Growth Rate (CAGR): | View % |
| City: | Fremont |
| State/Province: | California |
| Country: | United States |
| Phone: | View |
| Fax: | View |
| Website: | www.solyndra.com |
Corporate Organization
| Subsidiaries: | Photon Solar Solyndra Financing LLC Solyndra International AG |
| Founders: | Christian M. Gronet |
Industry Information
PrivCo Industries (Sector > Industry > Sub-Industry)
| Technology > Semiconductors |
| Clean Energy Technology > Solar Energy > Photovoltaic Solar Energy |
The PrivCo Industry Classification System™ (PICS) is our proprietary, modernized industry classification system, geared especially toward privately-held companies and including newer emerging sub-industries that are not reflected in other outdated industry classification systems, such as SIC and NAICS.
Competitors & Comparables
Competitors
| Evergreen Solar, Inc. |
| Global Solar |
| Helio Volt |
| Groupsat Solar |
| Nanosolar |
Charts, Financials, and Statistics (Table Format)
Copy & Paste Financials Into Spreadsheet or
| Income Statement | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
| Revenues | View | View | View | View | View | View |
| Cost of Goods and Services Sold | View | View | View | View | ||
| Gross Profit | View | View | View | View | ||
| Selling and Marketing Expenses | View | View | View | View | ||
| General and Administrative Expenses | View | View | View | View | ||
| Research and Development Expense (Excluding In - Process) | View | View | View | View | ||
| Asset Impairment Charges | View | View | View | View | ||
| Total Operating Expenses excluding costs | View | View | View | View | ||
| Operating Income/(Loss) | View | View | View | View | ||
| Interest Expense | View | View | View | View | ||
| Interest Income | View | View | View | View | ||
| Non-operating Income/(Expense) - Other | View | View | View | View | ||
| Net Income (Loss) | View | View | View | View | ||
| Preferred Stock Dividends | View | View | View | View | ||
| Net Income Applicable to Common Stockholders | View | View | View | View |
| Balance Sheet | 2009 | 2008 | 2007 |
| Cash and Cash Equivalents | View | View | View |
| Current Restricted Cash | View | ||
| Net Accounts Receivable Trade | View | View | View |
| Net Inventories | View | View | View |
| Prepaid Expenses | View | View | View |
| Current Assets | View | View | View |
| Net Property, Plant and Equipment | View | View | View |
| Restricted Cash | View | View | View |
| Noncurrent Other Assets | View | View | View |
| Assets | View | View | View |
| Accounts Payable | View | View | View |
| Accrued Expenses | View | View | View |
| Current Notes Payable | View | ||
| Current Liabilities | View | View | View |
| Long-Term Debt | View | View | View |
| Other Deferred Long Term Liability Charges | View | View | View |
| Noncurrent Other Liabilities | View | View | View |
| Liabilities | View | View | View |
| Redeemable Convertible Preferred Stock Obligations | View | View | View |
| Common Stock - Value (Excluding Additional Paid in Capital) | View | View | View |
| Additional Paid in Capital | View | View | View |
| Retained Earnings | View | View | View |
| Other Accumulated Comprehensive Income, Net of Tax Effect | View | View | View |
| Equity - Other | View | View | View |
| Stockholders' Equity | View | View | View |
| Liabilities and Stockholders' Equity | View | View | View |
| Cash Flow Statement | 2009 | 2008 | 2007 | 2006 |
| Operating Activities Beginning Net Income | View | View | View | View |
| Amortization | View | View | View | View |
| Depreciation and Amortization | View | View | View | View |
| Total Adjustments to Provision for Doubtful Accounts | View | View | View | View |
| Asset Impairment Charges | View | View | View | View |
| Adjustments to Foreign Currency Exchange Gains/(Losses) | View | View | View | View |
| Adjustment Issuance Stock and or Warrants | View | View | View | |
| Adjustment for Equity Based Compensation Expense | View | View | View | View |
| Adjustment Inventory | View | View | View | View |
| Adjustment Derivatives | View | View | View | View |
| Other Adjustments to Common Stockholders' Net Income - Increase/(Decrease) | View | |||
| Noncash Expenses - Other | View | View | View | View |
| Change Accounts Receivable | View | View | View | View |
| Increase/(Decrease) in Inventories | View | View | View | View |
| Change Prepaid Expenses Other Current Assets | View | View | View | View |
| Increase/(Decrease) in Deferred Charges | View | View | View | View |
| Increase/(Decrease) in Other Non-operating Assets | View | View | View | View |
| Increase/(Decrease) in Accounts Payable | View | View | View | View |
| Increase/(Decrease) in Accrued Expenses | View | View | View | View |
| Net Cash Flows Provided By/(Used In) Operating Activities | View | View | View | View |
| Purchase of Property, Plant and Equipment | View | View | View | View |
| Increase Decrease Restricted Funds | View | View | View | View |
| Net Proceeds from Sale of Short-Term Investments | View | View | View | View |
| Net Purchase of Short-Term Investments | View | |||
| Net Cash Flows Provided By/(Used In) Investing Activities | View | View | View | View |
| Proceeds from Lines of Credit | View | View | View | View |
| Proceeds from Notes Receivable | View | View | View | View |
| Proceeds from Notes Payable | View | View | View | View |
| Repayments on Lines of Credit | View | View | View | View |
| Repayments on Notes Payable | View | View | View | View |
| Proceeds Debt | View | View | View | View |
| Other Proceeds from Issuance of Long Term Debt | View | View | View | View |
| Debt Issuance Costs | View | View | View | View |
| Proceeds from Issuance of Common Stock | View | View | View | View |
| Proceeds from Issuance of Redeemable Convertible Preferred Stock | View | View | View | View |
| Repurchase of Common Stock | View | View | View | View |
| Stock Issuance Costs | View | View | View | |
| Net Cash Flows Provided By/(Used In) Financing Activities | View | View | View | View |
| Increase/(Decrease) in Cash and Cash Equivalents | View | View | View | View |
| Cash and cash equivalents at the beginning of the year | View | View | View | View |
| Total Cash and cash equivalents at the end of the year | View | View | View | View |
| Income Taxes Paid | View | View | View | View |
| Cash Interest Expense | View | View | View | View |
| Conversion of Debt Securities | View | View | View | View |
| Dividends Declared but Not Paid | View | View | View | View |
| Supplemental Property Plant Equipment Acquired | View | View | View | View |
| Stock Issued | View | |||
| Supplemental Other Net | View | View | View | View |
| Financial Notes: | |
| * | Solyndra, Inc. fiscal year end: 12/31 |
| 1 | 1,100 employees lost their jobs... read more. |
Charts, Financials, and Statistics (Graphs)
(Copy and paste into spreadsheet or export all Solyndra, Inc. financials to Excel and create your own graphs.)
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Solyndra, Inc. Revenues ($ MM): |
Solyndra, Inc. Cost of Goods and Services Sold ($ MM): |
Solyndra, Inc. Gross Profit ($ MM): |
Solyndra, Inc. Selling and Marketing Expenses ($ MM): |
Solyndra, Inc. General and Administrative Expenses ($ MM): |
Solyndra, Inc. Research and Development Expense (Excluding In - Process) ($ MM): |
Solyndra, Inc. Asset Impairment Charges ($ MM): |
Solyndra, Inc. Total Operating Expenses excluding costs ($ MM): |
Solyndra, Inc. Operating Income/(Loss) ($ MM): |
Solyndra, Inc. Interest Expense ($ MM): |
Solyndra, Inc. Interest Income ($ MM): |
Solyndra, Inc. Non-operating Income/(Expense) - Other ($ MM): |
Solyndra, Inc. Net Income (Loss) ($ MM): |
Solyndra, Inc. Preferred Stock Dividends ($ MM): |
Solyndra, Inc. Net Income Applicable to Common Stockholders ($ MM): |
Solyndra, Inc. Cash and Cash Equivalents ($ MM): |
Solyndra, Inc. Net Accounts Receivable Trade ($ MM): |
Solyndra, Inc. Net Inventories ($ MM): |
Solyndra, Inc. Prepaid Expenses ($ MM): |
Solyndra, Inc. Current Assets ($ MM): |
Solyndra, Inc. Net Property, Plant and Equipment ($ MM): |
Solyndra, Inc. Restricted Cash ($ MM): |
Solyndra, Inc. Noncurrent Other Assets ($ MM): |
Solyndra, Inc. Assets ($ MM): |
Solyndra, Inc. Accounts Payable ($ MM): |
Solyndra, Inc. Accrued Expenses ($ MM): |
Solyndra, Inc. Current Liabilities ($ MM): |
Solyndra, Inc. Long-Term Debt ($ MM): |
Solyndra, Inc. Other Deferred Long Term Liability Charges ($ MM): |
Solyndra, Inc. Noncurrent Other Liabilities ($ MM): |
Solyndra, Inc. Liabilities ($ MM): |
Solyndra, Inc. Redeemable Convertible Preferred Stock Obligations ($ MM): |
Solyndra, Inc. Additional Paid in Capital ($ MM): |
Solyndra, Inc. Retained Earnings ($ MM): |
Solyndra, Inc. Other Accumulated Comprehensive Income, Net of Tax Effect ($): |
Solyndra, Inc. Equity - Other ($): |
Solyndra, Inc. Stockholders' Equity ($ MM): |
Solyndra, Inc. Liabilities and Stockholders' Equity ($ MM): |
Solyndra, Inc. Operating Activities Beginning Net Income ($ MM): |
Solyndra, Inc. Amortization ($ MM): |
Solyndra, Inc. Depreciation and Amortization ($ MM): |
Solyndra, Inc. Total Adjustments to Provision for Doubtful Accounts ($ MM): |
Solyndra, Inc. Asset Impairment Charges ($ MM): |
Solyndra, Inc. Adjustments to Foreign Currency Exchange Gains/(Losses) ($): |
Solyndra, Inc. Adjustment Issuance Stock and or Warrants ($ MM): |
Solyndra, Inc. Adjustment for Equity Based Compensation Expense ($ MM): |
Solyndra, Inc. Adjustment Inventory ($ MM): |
Solyndra, Inc. Adjustment Derivatives ($ MM): |
Solyndra, Inc. Noncash Expenses - Other ($ MM): |
Solyndra, Inc. Change Accounts Receivable ($ MM): |
Solyndra, Inc. Increase/(Decrease) in Inventories ($ MM): |
Solyndra, Inc. Change Prepaid Expenses Other Current Assets ($ MM): |
Solyndra, Inc. Increase/(Decrease) in Deferred Charges ($ MM): |
Solyndra, Inc. Increase/(Decrease) in Other Non-operating Assets ($ MM): |
Solyndra, Inc. Increase/(Decrease) in Accounts Payable ($ MM): |
Solyndra, Inc. Increase/(Decrease) in Accrued Expenses ($ MM): |
Solyndra, Inc. Net Cash Flows Provided By/(Used In) Operating Activities ($ MM): |
Solyndra, Inc. Purchase of Property, Plant and Equipment ($ MM): |
Solyndra, Inc. Increase Decrease Restricted Funds ($ MM): |
Solyndra, Inc. Net Proceeds from Sale of Short-Term Investments ($ MM): |
Solyndra, Inc. Net Cash Flows Provided By/(Used In) Investing Activities ($ MM): |
Solyndra, Inc. Proceeds from Lines of Credit ($ MM): |
Solyndra, Inc. Proceeds from Notes Receivable ($): |
Solyndra, Inc. Proceeds from Notes Payable ($ MM): |
Solyndra, Inc. Repayments on Lines of Credit ($ MM): |
Solyndra, Inc. Repayments on Notes Payable ($ MM): |
Solyndra, Inc. Proceeds Debt ($ MM): |
Solyndra, Inc. Other Proceeds from Issuance of Long Term Debt ($ MM): |
Solyndra, Inc. Debt Issuance Costs ($ MM): |
Solyndra, Inc. Proceeds from Issuance of Common Stock ($): |
Solyndra, Inc. Proceeds from Issuance of Redeemable Convertible Preferred Stock ($ MM): |
Solyndra, Inc. Repurchase of Common Stock ($): |
Solyndra, Inc. Stock Issuance Costs ($ MM): |
Solyndra, Inc. Net Cash Flows Provided By/(Used In) Financing Activities ($ MM): |
Solyndra, Inc. Increase/(Decrease) in Cash and Cash Equivalents ($ MM): |
Solyndra, Inc. Cash and cash equivalents at the beginning of the year ($ MM): |
Solyndra, Inc. Total Cash and cash equivalents at the end of the year ($ MM): |
Solyndra, Inc. Income Taxes Paid ($): |
Solyndra, Inc. Cash Interest Expense ($ MM): |
Solyndra, Inc. Conversion of Debt Securities ($ MM): |
Solyndra, Inc. Dividends Declared but Not Paid ($ MM): |
Solyndra, Inc. Supplemental Property Plant Equipment Acquired ($ MM): |
Solyndra, Inc. Supplemental Other Net ($ MM): |
Solyndra, Inc. Total Employees: |
Solyndra, Inc. Productivity (Revenue/Employee) ($ MM): |
Mergers & Acquisitions
| Date | Status | Target | Buyer | Deal Type | Price | |
| Details | Nov. 2012 | Completed | View | View | Acquisition Asset Sale Sec 363 Bankruptcy Sale | View |
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VC/Funding Activity
| 1 | In March of 2009, the...Read More → |
| 2 | In connection to the cancellation...Read More → |
| 3 | Solyndra issued...Read More → |
| 4 | Solyndra closed a $69 million...Read More → |
| 5 | Solyndra issued...Read More → |
| 6 | Upon filing for Ch. 11...Read More → |
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Public / Private History (PPH™)
| Date | Deal Type | Action | Resulting Status | Valuation | Amount Raised | Public Ticker | |
| Details | Jun. 2010 | View | View | View1 | View | View | View |
| 1 | In connection with the cancellation...Read More → |
Full-length notes are available with Single Report Access or PrivCo Premium Subscription. |
Bankruptcy & Restructuring
| Type | Date Entered | Date Exited | Assets | Liabilities | |
| Details | View1 | Aug. 2011 | View | View | View |
| Details | View2 | Jul. 2012 | View | View | View |
| 1 | As part of its bankruptcy...Read More → |
| 2 | All the remaining assets of...Read More → |
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Detailed Business Description: Solyndra, Inc.
Company Overview
Headquartered in Fremont, California, Solyndra, Inc. designs and manufactures solar photovoltaic (PV) systems comprised of panels and mounts for the commercial rooftop market. In 2010, Solyndra was named “One of the 50 Most Innovative Companies in the World” by MIT’s Technology Review Magazine. Using cylindrical modules and thin film CIGS technology, Solyndra’s systems are designed to provide a lower average cost of electricity and the highest kilowatt hour production per rooftop than flat module-based solar techologies. Solyndra designs their cylindrical modules specifically for the commercial rooftop. The privately-owned solar company asserts that the cylindrical design offers fast installation, a non-penetrating mounting system, and superior wind, snow and soiling performance. The cylindrically-designed solar modules perform better when installed on a white or light-colored roof, due to the additional sunlight received from… Continue Reading →
Exhibits
Supplemental Resources
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